Food waste costs supermarkets worldwide ninety billion euros every year. Halving that cost could increase food retailers’ tight profit margins by more than 20 %, a new report suggests.
The difference between profit and loss
Managing unsold and surplus food can add up to 1.8 % of sales for supermarkets, if you include often overlooked factors such as working hours, markdowns, redistribution and the disposal of surplus or unsellable products. Taking into account an estimated global fresh produce market of more than five trillion euros, the total global hidden costs of food loss could be as high as ninety billion a year.
