Quik Mart Convenience Stores Selects CB4 to Improve In-Store Operations
NEW YORK, Aug. 3, 2017 /PRNewswire/ -- CB4 Analytics today announced that it has been selected by South Tennessee Oil Company, Inc., doing business as Quik Mart Convenience Stores, to help increase same store growth and improve its in-store customer experience.
The simple but powerful CB4 software solution applies patented data compression and machine learning algorithms to uncover hidden purchasing patterns that detect and capture unfulfilled local demand. These patterns are then translated into actionable recommendations that are sent to the relevant operations or merchandising team with guidance on how to capture the lost sales opportunities.
Quik Mart, with 39 locations across Alabama and Tennessee, will apply the software to identify SKUs with high local demand that are not meeting their sales potential because of operational inefficiencies. These include issues such as misplaced products, products that are missing price tags, mislabeled items, or problems with on shelf visibility. The solution can also be used to fine tune assortments to better meet local preferences.
"The CB4 software leverages our own sales data to generate operational and merchandising learnings for each store that we could never have hoped to achieve on our own. We could task several very smart and highly paid individuals in our company to go around full-time and audit our items on sale relative to the corresponding sales data, or we can rely on CB4 to do the hard work for us, for far less cost. So that's what we've done!" said Charlie Edwards, Quik Mart's Chief Operating Officer.
According to CB4 CEO, Yoni Benshaul, "Our aim is to provide actionable insights from our clients' existing data, with the least amount of disruption to their already busy working day. We can run an initial proof of concept in under an hour to demonstrate the impact and value of our software. Our entire process is designed to require as few client resources as possible, while ensuring that the right information is delivered to the right stakeholders at the right time in an easy to action format. We're really pleased to be working with Quik Mart and are looking forward to demonstrating the clear ROI of our solution."
About CB4 Analytics
CB4 Analytics provides a patented software solution for brick and mortar retailers that increases same store growth by up to 3% using simple sales data. The offspring of an extensive research project at Tel-Aviv University, Israel, more than 50 man-years were spent developing the patented algorithms which form the basis of its solution. With offices also in San Francisco, and New York, CB4 is a proud partner of Sequoia Capital. For additional information, visit www.c-b4.com. Follow us on Twitter at @CB4_Analytics and connect with us on LinkedIn.
Bob Finale, 917-589-5787
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SOURCE CB4 Analytics