The frequent misinterpretation of “best before” labels among consumers is linked to substantial amounts of food waste generated in the US and the EU. To counteract this problem, the European Commission plans to revise current regulations of date marking. Among other initiatives, it is considered to use “Look-Smell-Taste” (LST) labels on food packaging, which depict visual cues motivating consumers to engage in sensory food assessments. Against this background, this paper aims to investigate the LST labels’ effectiveness in reducing consumers’ food waste behavior using an online- and a food lab experiment. The studies examine selected date marking options varying in their wording and presence of the LST label with regard to their potential (1) to increase the overdate acceptance and actual product use, as well as (2) to motivate the sensory assessment of dairy products that passed the “best before” date. Findings show that LST labels did not significantly increase the overdate acceptance, the actual use of expired products, or consumers’ engagement in sensory assessment. Participants did however indicate their preference for date marking options with LST labels over text-only options. The paper provides insights into current and future attempts to reduce food waste related to date marking and recommendations for respective revisions as part of the European Green Deal.