BP renews Retail Insight partnership as oil and gas giant reduces food waste across its M&S Food store estate

Oil and gas company and forecourt retailer, BP, has renewed its partnership with Retail Insight, a provider of in-store execution software, for an additional three years in the UK.

BP provides fuel, food and beverages to motorists and shoppers across the UK, operating over 300 convenience stores as part of its partnership with M&S Food.  

Since partnering with Retail Insight in 2019, it has used the company’s AI powered solution, WasteInsight, for dynamic markdowns on goods nearing expiry, providing reduced prices to customers.

A cloud-based software solution, WasteInsight applies a machine learning model to provide dynamic markdown prices that encourage sell-through and reduce waste.  As well as enabling dynamic discounts, it also addresses expiration management, offers more efficient donations to charities and drives improved forecasting accuracy, allowing retailers to sell more while wasting less.

Hannah Munns, UK Trading Director at BP, comments: “The WasteInsight solution has delivered impressive results across our estate.  The implementation of dynamic markdowns has not only reduced waste but also significantly improved our sell-through. We are looking forward to seeing continued improvements over the coming years.”

Kieran O’Brien, VP Customer Success EMEA at Retail Insight, says: “We are delighted to be able to extend our relationship with BP for a further three years.  It’s always rewarding to see the benefits that our dynamic markdown solution can bring, and we look forward to continuing to improve the outputs from WasteInsight for BP over the next three years.”

“Together, we will continue to set new benchmarks in waste reduction and operational efficiency.”

2024 RTIH INNOVATION AWARDS

Retail Insight was among the finalists at the sixth edition of the RTIH Innovation Awards.

The awards, sponsored by Vista Technology Support, Scala, CADS, 3D Cloud, Brightpearl by Sage’s Lightning 50, Business France, and Retail Technology Show 2025, celebrate global tech innovation in a fast moving omnichannel world.

Our 2024 hall of fame entrants were revealed during an event which took place at RIBA’s 66 Portland Place HQ in Central London on 21st November, and consisted of a drinks reception, three course meal, and awards ceremony presided over by comedian Lucy Porter.

In his welcome speech, Scott Thompson, Founder and Editor, RTIH, said: “The event is now into its sixth year and what a journey it has been. The awards started life as an online only affair during the Covid outbreak, before launching as a small scale in real life event and growing year on year to the point where we’re now selling out this fine, historic venue.”

He added: “Congratulations to all of our finalists. Many submissions did not make it through to the final stage, and getting to this point is no mean feat. Checkout-free stores, automated supply chains, immersive experiences, on-demand delivery, next generation loyalty offerings, inclusive retail, green technology. We’ve got all the cool stuff covered this evening.”

“But just importantly we’ve got lots of great examples of companies taking innovative tech and making it usable in everyday operations - resulting in more efficiency and profitability in all areas.”

Congratulations to our 2024 winners, and a big thank you to our sponsors, judging panel, the legend that is Lucy Porter, and all those who attended last week’s gathering.