CPI ThoughtCast Ep. 5

Retail & Change

Each year, it’s estimated that about 1.3 billion tons of food is wasted globally, much of it ending up in the trash cans and dumpsters of retailers. In this episode of ThoughtCast presented by CPI, Rob Blythin sat down with David Kat, Senior Vice President of Business Development at Wasteless.

"Supermarkets are bleeding cash through food waste, and it's high time we patch that up," David bluntly remarked. Wasteless harnesses artificial intelligence to turn this around, making stores not just more profitable, but also champions of sustainability.

Click below to watch the full interview with David Kat

Under Attila's leadership, Laurel Retail has made substantial strides, notably in self-checkout technology. A pivotal moment came with the launch of their self-checkout system in late 2019, marking a significant milestone in the company's quest to redefine the shopping experience. "Transitioning to self-checkout not only modernizes the retail environment but also directly contributes to operational efficiency and cost savings," Attila notes, reflecting on the transformative impact of their solutions.

Attila believes the advent of self-checkout technology stands as a testament to the industry's relentless pursuit of enhancing customer experience and operational efficiency. He emphasizes the significance of this transition, noting, "The move towards self-checkout not only modernizes the retail environment but also brings substantial benefits in terms of cost savings and operational efficiency." For Attila, self-checkouts are just one example of the pivotal role technology plays in redefining retail operations, pointing to a future where innovation drives customer service improvements and streamlined processes.

He details a significant project that led to dramatically increased utilization rates, demonstrating the tangible benefits of adopting such technologies. "Seeing the utilization rates soar from 40% to over 80% with our self-checkout implementations was a clear indicator of the positive impact on both retailers and customers," Attila states.

Looking ahead, Attila envisions a continued trajectory towards even more seamless and efficient retail experiences. His forward-thinking approach includes exploring new technologies and expanding the reach of innovative retail solutions. "As we look to the future, our focus includes not only enhancing our self-checkout offerings but also exploring new avenues like autonomous store concepts to further revolutionize the shopping experience," he mentions, outlining his vision for a tech-driven retail evolution.