bp enhances AI partnership to fight food waste in the UK

The company has extended its collaboration with Retail Insight to enable price reduction across products getting closer to their expiration date.

bp UK renewed its partnership with Retail Insight, an in-store execution software provider, for an additional three years to reduce waste across its British retail network.

The collaboration began in 2019, launching the AI-powered solution WasteInsight to dynamize markdowns on products close to their expiration date. Now, extending up to 2027, this new phase aligns with the global mobility company’s ambition to focus on convenience.

Currently, bp provides high-quality fuel, food and beverages to motorists and shoppers across the UK, operating over 300 convenience stores as part of its partnership with M&S Food.

“The WasteInsight solution has delivered impressive results across our estate. The implementation of dynamic markdowns has not only reduced waste but also significantly improved our sell-through. We are looking forward to seeing continued improvements over the coming years,” said Hannah Munns, UK Trading Director at bp.

WasteInsight studies foundational retail data and applies a machine learning model to provide dynamic markdown prices designed to encourage sales.