KEASBEY, NJ - Technology has become an integral part of any retail strategy, and Wakefern Food Corp. has an ace up its sleeve. The grocer recently revealed that it will be expanding its partnership with CB4 and will be rolling out its technology to additional ShopRite and Price Rite Marketplace stores following a successful pilot test in 2020.
“Our initial test of CB4 at several ShopRite supermarkets provided valuable insights to complement our existing operations without burdening our store teams,” said Cheryl Williams, Chief Information Officer, Wakefern. “We are pleased to be expanding CB4 throughout ShopRite and Price Rite Marketplace and anticipate much success.”
The CB4 app uses artificial intelligence (AI) and machine learning to increase sales, save time, and allow for better tracking of products. With this recent expansion, the CB4 app will provide each store with a list of SKUs unique to its individual selling pattern and operating conditions to help prevent inventory discrepancies that can hold back replenishment and sales.
According to the release, the technology allows store teams to make quick fixes like updating the inventory management system, printing a new label, or taking items out of back stock. These quick adjustments can help meet customer demand and increase sales.
“COVID-19 has been—and is still—a challenge and an opportunity for brick-and-mortar retail. Stores are very busy, and supply issues can be challenging, so it can be difficult to know what needs attention now,” said Yoni Benshaul, CB4’s Chief Executive Officer. “Wakefern’s results using CB4 to solve this challenge while delivering revenue and customer satisfaction are amazing to see.”
Wakefern has nearly 50 member companies that independently own and operate 362 retail supermarkets in the U.S. under banners that include ShopRite and Price Rite Marketplace. The CB4 solution offers a high per-minute ROI, allowing a store’s team to spend less time each week tracking price mismatches, out-of-stock items, inventory discrepancies, and other common back-end issues.
What will come of Wakefern’s most recent expansion and this innovative partnership? AndNowUKnow will bring you the latest updates.
