In an effort to reduce food waste and increase profits, S-Market, a Finland-based grocery store chain, launched a "happy hour" where customers can purchase soon-to-expire food at a deeply discounted price. This hour of lowered prices begins after 9 PM every evening and food prices are discounted between 30 to 60 percent.
The happy hour-styled sale was launched in an effort to limit the brand's negative environmental impact by reducing the amount of food that enters the landfills. According to a recent study, food that rots emits a methane gas that's 25 times more harmful than carbon dioxide and ensuring food isn't wasted will help the brand and consumers live a more eco-conscious lifestyle. S-Mart hopes its discounted food hour will encourage shoppers to purchase more soon-to-expire food.
Happy Hour-Themed Food Discounts
S-Market Deeply Discounts Soon-To-Expire Food At 9 PM Each Night
Trend Themes
1. Reducing Food Waste - Grocery stores can implement happy hour-style sales to reduce food waste and increase profitability.
2. Eco-conscious Consumerism - Discounting soon-to-expire food can encourage consumers to make more sustainable purchasing choices.
3. Circular Economy - Implementing discounted pricing for soon-to-expire food can contribute to the development of a circular economy by reducing waste and maximizing resources.
Industry Implications
1. Grocery Retail - Grocery stores can capitalize on the happy hour-style sale trend to attract customers and improve sustainability efforts.
2. Food Service - Restaurants and cafes can adopt the happy hour concept to reduce food waste and offer cost-effective options to customers.
3. Sustainability - Various industries can incorporate the concept of reducing waste and promoting eco-consciousness to align with sustainable business practices.