A new study commissioned by retail industry think tank the Coca-Cola Retailing Research Council Asia and conducted by McKinsey & Company has called on retailers to play a more active role in setting and improving standards for food freshness and safety.
The report, entitled ‘Safer Fresh Food for Asia’s Shoppers - A call to action’, provides a best-practice food safety management framework and proposes an “evolutionary model” adapted to the developmental stages of different Asian markets.
The report also highlights how retailers can boost their brand and reputation for freshness through taking a proactive stance on these issues.
It warns that a single food safety scare could cost a single large retail chain US$40m over two years in lost sales.
‘Safer Fresh Food for Asia’s Shoppers - A call to action’ also gives customised recommendations and comparisons for a number of individual markets, from emerging to developed markets.
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