CB4 and Wakefern Food Corp. today announced plans to expand CB4 technology to additional stores after a successful rollout in several ShopRite and Price Rite Marketplace stores. The CB4 app uses artificial intelligence (AI) and machine learning to increase sales, save time, and allow for better tracking of products.
Wakefern is the largest retailer-owned cooperative in the US, with nearly 50 member companies who independently own and operate 362 retail supermarkets under banners that include ShopRite and Price Rite Marketplace. Wakefern first piloted the CB4 app 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 solution has 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.
The CB4 app provides 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. 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.”
The NY-based technology firm is quickly making waves in a world where business intelligence solutions no longer meet retailer’s everyday needs. Customers like Kum & Go, Levi’s, and Associated Food Stores are fans of CB4 because it doesn’t slow them down with irrelevant stale insights. It only sends stores after what can add significant revenue now. Other leading grocery, convenience, specialty and apparel retailers have adopted CB4, tripling the number of stores using CB4 between 2020 and 2021.
With offices in New York, Tel Aviv, and London, CB4 is a proud partner of Sequoia Capital. To learn more about our solution, please visit: https://cb4.com/demo/ or email firstname.lastname@example.org.
Matthew McAlister, 347.819.1900