This new grocery store concept in Denmark found a brilliant way to profit from a huge waste
The store, called WeFood, focuses primarily on bakery and produce items.
It has deals with a number of food suppliers, as well as an agreement with Føtex, one of the biggest supermarket chains in Denmark, to get their old, expired, or blemished food, the Independent reports.
WeFood is discounting its produce by as much as 50% below supermarket prices.
The company says it's aiming to reduce Denmark's food waste, and it has the backing of the Danish government.
"It's ridiculous that food is just thrown out or goes to waste," Eva Kjer Hansen, the Danish minister for food and environment, said at a recent event organized by WeFood. "It is bad for the environment and it is money spent on absolutely nothing."
WeFood has plans to open more outlets across the country if the first location, which opened in Copenhagen, is successful.
The concept is similar to a store launched in Boston last year called Daily Table.
Daily Table, which was founded by the former president of Trader Joe's, sells food that other grocery stores are planning to throw out. But unlike WeFood, it doesn't sell any food that is past its expiration date.
Food waste is a huge issue worldwide.
In the US alone, roughly 31% of food goes uneaten, yet one in six Americans faces hunger, according to the USDA.
- India rises to rank 39th on WEF's Travel & Tourism Development Index 2024, becomes highest ranked South Asian nation
- War games: Israel conducts exercises to prepare for emergency scenarios in case of 'all-out war'
- IPL Decoded: Top 10 players with the highest number of 6’s in IPL 2024 so far
- Worldwide tourism and its contribution to global GDP to return to pre-COVID levels this year: WEF study
- New Pirates of the Caribbean movies unlikely to feature Johnny Depp as lead
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market