THE 2019 POWER 25 TOP BANNERS: SHOPRITE, PRICE RITE, THE FRESH GROCER HQ: KEASBEY, N.J. STORE COUNT: 354
Logging a record $16.5 billion in retail sales for its 2018 fiscal year, there’s no denying the clout of the nation’s largest retailer-owned cooperative and merchandising and distribution arm for ShopRite stores, which its officials say “can compete and win against [any] competition that comes our way.” While continuing to focus on opening and remodeling more stores—including the rollout last year of a new format and reimagined shopping experience at three Price Rite Marketplace pilot stores in Pennsylvania that focus on deep discounts while offering more organics, fresh foods, convenience and better value—the big co-op is concurrently testing, expanding and enhancing its e-commerce solutions. Wakefern President and COO Joe Sheridan discussed the company’s foray into artificial intelligence in this month’s Endcap interview on p. 66. “Over the next five years, we will see advances in AI and next-generation learning that will completely change the shopping experience and transform the landscape of retail. AI is a game changer that affects everything, from stocking shelves to floor cleaning,” as well as tracking inventory that will make product sourcing more efficient.
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