RFID tech targets US$94B loss in retail industry

A new report from Avery Dennison highlights the growing financial and operational impact of food waste across the global retail supply chain, with meat emerging as one of the biggest problem areas. The study estimates that food waste could cost the industry around $540 billion annually by 2026, with meat alone accounting for roughly $94 billion of that total. 

A major reason for these losses is a lack of visibility. Many businesses struggle to track where and why waste occurs, especially across complex supply chains. Over 60% of companies report limited insight into waste points, making it difficult to manage inventory effectively or respond to demand fluctuations.  

Meat is particularly challenging because it is both highly perishable and expensive. Retailers often overstock to avoid shortages, but inaccurate demand forecasting—worsened by inflation and shifting consumer behavior—leads to large volumes being discarded.  

To tackle this issue, the report emphasizes the role of technologies like RFID (radio-frequency identification). By giving each product a digital identity, RFID enables real-time tracking of items throughout the supply chain. This improves inventory accuracy, helps monitor freshness and expiry dates, and allows retailers to better match supply with actual demand.  

In addition, smart packaging and digital labeling can extend shelf life and improve traceability, giving retailers more control over stock rotation and pricing decisions. These tools help reduce spoilage while also improving efficiency and profitability.  

Overall, the report reframes food waste—especially in meat—not just as a sustainability issue, but as a major business opportunity. By adopting data-driven technologies and improving supply chain visibility, retailers can significantly cut losses, increase margins, and build more resilient food systems.