THESIS
2019
xi, 89 pages : illustrations ; 30 cm
Abstract
With a common goal of profit maximization, various pricing strategies have been proposed, and with an increasing importance of environment, several attempts have been made in the society to reduce the food wastes. Considerable research efforts have been devoted to the development of virtuous cycle of sustainability. However, only a few concrete initiatives have so far been well implemented, most of which did not yet lead to a significant decrease in the amount of food products unsold before their expiry dates.
Besides, there is a gap between the market offerings and customer needs. Stores suffer from a severe lack of effectiveness and efficiency of discount promotion due to their limited marketing reach. At the same time, consumers want discounts, but they cannot drop by stores one by...[
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With a common goal of profit maximization, various pricing strategies have been proposed, and with an increasing importance of environment, several attempts have been made in the society to reduce the food wastes. Considerable research efforts have been devoted to the development of virtuous cycle of sustainability. However, only a few concrete initiatives have so far been well implemented, most of which did not yet lead to a significant decrease in the amount of food products unsold before their expiry dates.
Besides, there is a gap between the market offerings and customer needs. Stores suffer from a severe lack of effectiveness and efficiency of discount promotion due to their limited marketing reach. At the same time, consumers want discounts, but they cannot drop by stores one by one to search what is available.
In this paper, an O2O sales promotion platform called StoreRush is proposed to address the food waste issue by connecting customers with stores. In addition, a data-driven recommendation model for determining the optimal discount pricing of perishable products is developed and integrated within the platform. StoreRush is aimed at achieving win-win-win situation where producers can boost the sales of near-expiration food products, consumers can enjoy the discount opportunities, and the society can foster a healthy economy and sustainable environment.
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