Episode #38 - Takestock, the business using the principles of eBay to solve food waste

Show notes

New research released by LoveMoney.com suggests that over a lifetime, the average British person will throw away £12,350-worth of food.

By analysing figures from the food waste charity WRAP, it found that each person spends around £196 a year on food that goes straight in the bin. Extrapolate that from the age of 18 until the average life expectancy of 81 – and that's £12,350 over a lifetime.

For a typical family with children, that is an annual waste of £700 per year – and a depressing £44,100 worth of food over the same 63-year period.

The average household buys around 27kg of food a week, of which almost a fifth (19%) isn’t consumed. This amounts to almost six meals per week, with the most common food items wasted are bread, milk, potatoes and meat, fish and poultry.

But the problem of food waste stretches along the value chain; it’s not just about the food we scrape off our plates at home. It's also about the retailers who order too much food, and the farmers and food manufacturers that produce too much, or not to the quality expected of supermarkets. It's a big problem.

And many businesses in large distributed industries have a problem with stock being unwanted in one location and being in demand some place else.

So, step forward Takestock, the subject of our show this week. It was created to be an online trading platform to make it easy for owners of stock to sell their unwanted items and to find a buyer efficiently rather than turning to scrap as an option.

Thankfully, Takestock is initially focussing on the food manufacturing & agricultural sectors where 600,000 tonnes of food are wasted each year in the UK alone.

I caught up with the founder and CEO of the business, Campbell Murray (right), to find out how the system works and how he plans to deal with food waste - said to cost the UK £1bn ever year - for good.

Enjoy the show.

A still taken from Takestock's explainer video

A still taken from Takestock's explainer video

Takestock uses the principles of eBay to efficiently help food manufactuers find a market for unwanted goods.

Takestock uses the principles of eBay to efficiently help food manufactuers find a market for unwanted goods.