Marks & Spencer continues to prioritize sustainability by extending its collaboration with Retail Insight for another three years.
- This ongoing partnership leverages Retail Insight’s AI-powered solutions to efficiently manage food markdowns and reduce waste.
- Plan A, M&S’s sustainability plan, plays a key role in their efforts to achieve net-zero emissions by 2040.
- Leaders from both organizations express satisfaction with the results achieved so far through their joint efforts.
- The renewed commitment signifies a forward-thinking approach to tackling environmental challenges in retail.
Marks & Spencer (M&S) has taken a significant step to reassert its commitment to sustainability by renewing its partnership with Retail Insight, a provider of in-store execution software, for another three years. This collaboration focuses on utilizing innovative AI-powered solutions to streamline the process of managing food markdowns, thereby effectively reducing waste in M&S stores.
Initiated in 2021, this partnership was developed with the intention of supporting M&S’s ambitious Plan A, a comprehensive sustainability strategy formulated to guide the retailer towards achieving net-zero carbon emissions across its operations by 2040. By instituting dynamic markdowns, the retailer not only lessens food wastage but also enhances product sell-through in its premium outlets.
Chris Thomas, M&S’s head of product for store operations, highlighted the impact of this synergy, stating: “Our collaboration with Retail Insight over the past three years has been incredibly impactful. The WasteInsight solution has delivered significant waste reduction benefits over the past three years, as well as improving overall operational efficiency. We look forward to continuing to work with the Retail Insight team to help us meet our net-zero targets.”
Kieran O’Brien, Vice President for Customer Success EMEA at Retail Insight, echoed this sentiment, emphasizing the strong relationship forged over the years. “We are excited to extend our partnership with Marks & Spencer and we’re proud of the strong relationship we have built with the retailer as part of our commitment to delivering innovative solutions that drive success. Our close working relationship has been pivotal in enabling success and we will continue to drive down waste and enhance efficiency across its stores,” he mentioned.
The renewal signals a continued effort from both companies to tackle food waste head-on, illustrating a shared commitment to finding effective strategies that align environmental responsibility with business operations. This partnership is set to continue evolving, bolstering the operational efficiency of M&S while aligning with global sustainability goals.
The renewed partnership between M&S and Retail Insight marks a crucial step in advancing retail sustainability and reducing food waste.
