Retail app promises to reduce shrink

08/29/2013 11:17:00 AM
Coral Beach

A smartphone app in development promises to help retailers reduce fresh produce shrink by enticing customers with instant coupons as incentives to buy overstocked perishable items before they spoil.

Dubbed EcoBasket, the app and company of the same name are the creation of the two financial advisors who founded MCG Global LLC and the entrepreneur who founded Golfmoolah LLC. The trio is seeking financial backing for the EcoBasket app development via the online fundraising site Indiegogo, according to a news release.

Their goal is to reduce the amount of food waste going to landfills with instant coupons, according to a video presentation on the Indiegogo site (http://tinyurl.com/EcoBasket).

“If a supermarket has more apples than it can sell, EcoBasket will allow the manager to put those apples on sale instantly so they can be sold at their freshest,” according to the news release.

“The current method includes working with coupon clearing houses and printed coupon fliers, taking weeks to reach the consumer, and allowing the apples to go bad in the process.”

EcoBasket founders Vince Wasik and S. Garrett Stonehouse, who together founded MCG Global LLC, and Terence J. Fitzpatrick, founder of Golfmoolah LLC, launched the funding campaign Aug. 28. They seek $127,000 to finish development of the EcoBasket app and launch the platform by Jan. 1.

The app would provide consumers a list of current coupons via their smartphones when they enter a grocery store. It would work in conjunction with retailers’ customer loyalty card programs.

Once a customer accepts an EcoBasket coupon, the app forwards that information to the store’s computer system using the customer’s loyalty card identification number. At the checkout lane, the coupon is automatically applied without the need for a printed coupon or any additional action by the customer.



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