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Edison, New Jersey, United States
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322 followers
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As Wakefern Food Corp.’s Chief…
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Wakefern Food Corp.
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Richard Daw
Hello Retail Friends, I cannot stress enough how important fresh products are to grocery retailers. When it comes to inventory planning, “point solutions” that lack end-to-end integration and only address store-level planning simply are not enough! Retailers need proven, multi-echelon planning solutions that extend beyond the store - unifying, automating, and optimizing planning in stores, DCs, and omnichannel. This is the only way to get crucial visibility and insight across the end-to-end value chain. https://lnkd.in/ej53RsFV #supplychain #grocery #freshproduce How to improve retail fresh food inventory management | RELEX Solutions Tackle fresh food inventory management challenges head-on with the right strategies and robust planning software. www.relexsolutions.comhas context menuCompose
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Richard Daw
Hello Retail Friends, convenience retailers face unique challenges. Small footprints and limited storage space require highly accurate and scalable supply chain planning – especially when charged with supporting aggressive growth targets. We’re proud to announce that OXXO, the largest convenience retail chain in the Americas, recently chose RELEX to optimize forecasting and replenishment as they focus on international growth. https://lnkd.in/ebaedkfH #supplychainplanning #supplychainoptimization #supplychain OXXO Internacional Enhances Retail Operations with RELEX Solutions for Forecasting and Replenishment | RELEX Solutions Focused on international growth, OXXO adopts RELEX AI-driven forecasting and replenishment solutions for smarter supply chain and inventory management.
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Karl Haller
This interview with Walmart CEO Doug McMillon is a #retail #masterclass. A bit of context and perspective, combined with a lot of detail about every aspect of their business — #merchandising, #SupplyChain, #stores, #digital / #omnichannel, #international, #technology, #marketplaces, #RMNs, and more. And this will make an excellent base prompt for a retail #AI assistant — one of my #WeekendProjects
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Joey Ahnn
Walmart is finally moving forward with Electronic Shelf Labels (ESLs). While ESLs are common today, scaling them to 2,300 Walmart stores is a significant and challenging decision. Implementing this technology requires a substantial investment and careful planning. Strategic thinking is crucial for such an investment. 이마트 (Emart) Tech was able to start this journey five years ago, benefiting from a relatively smaller scale compared to Walmart. Great move, Walmart! #ESL #Innovation #Emart #EmartTech #Technology https://lnkd.in/gC2rbbu6
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Lina Gallagher
🚀 Insights from Walmart CEO Doug McMillon on eCommerce and Omnichannel Retail. Brilliant interview, thanks Stratechery. Here are some key takeaways from our conversation: 🔹 𝐖𝐚𝐥𝐦𝐚𝐫𝐭’𝐬 𝐞𝐂𝐨𝐦𝐦𝐞𝐫𝐜𝐞 𝐄𝐯𝐨𝐥𝐮𝐭𝐢𝐨𝐧: Initially, the potential of eCommerce was underestimated, but the acquisition of Jet.com was a game-changer. It brought in essential expertise and new perspectives, enabling Walmart to aggressively pursue and integrate digital retail. 🔹 𝐎𝐦𝐧𝐢𝐜𝐡𝐚𝐧𝐧𝐞𝐥 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲 𝐚𝐧𝐝 𝐈𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐢𝐨𝐧: Leveraging its vast network of physical stores, Walmart has created a seamless omnichannel experience. With stores in close proximity to customers, especially for groceries, Walmart has a unique competitive edge. Integrating supply chain and technology across channels has enhanced both customer experience and operational efficiency. 🔹 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐓𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧: The transition to a tech-savvy retailer required adopting agile methodologies and fostering cross-functional collaboration. Significant investments in automation and AI are optimizing Walmart’s supply chains and inventory management, showcasing a forward-thinking approach to retail technology. 🔹 𝐆𝐫𝐨𝐜𝐞𝐫𝐲 𝐚𝐬 𝐚 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐀𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞: Integrating grocery with eCommerce has been a major advantage for Walmart. The grocery business drives frequent customer visits and supports the broader eCommerce strategy, solidifying Walmart’s market position by offering a comprehensive shopping experience both online and in-store. 🔹 𝐌𝐚𝐫𝐤𝐞𝐭𝐩𝐥𝐚𝐜𝐞 𝐚𝐧𝐝 𝐀𝐝𝐯𝐞𝐫𝐭𝐢𝐬𝐢𝐧𝐠 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬: Walmart’s marketplace and its advertising platform, Walmart Connect, are crucial areas of focus. These initiatives aim to diversify revenue streams, enhance customer acquisition, and leverage Walmart's scale in both physical and digital retail. Do you follow Walmart's journey? #EmerceConsulting #Ecommerce #RetailInnovation #Omnichannel #Walmart #Leadership #TechnologyInRetail
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Matt Sargent
Given that retailers often ask how they should approach the wild west of AI, I jumped at the opportunity to provide my perspective on how C-stores should utilize AI to accelerate their marketing campaigns. This article, published in CStore Decisions, demonstrates how retailers can leverage their own customer data to create campaigns that, “positively impact open rates, click-through rates and conversions.” ❕ Breaking through the hype of AI and getting to the core of how C-store marketing teams can utilize this capability to drive greater connectivity with their customers, at scale, is a discussion that more retailers should be having. 𝘛𝘩𝘢𝘯𝘬𝘴 𝘵𝘰 Emily Boes 𝘢𝘯𝘥 Erin Del Conte 𝘧𝘰𝘳 𝘵𝘩𝘦 𝘱𝘢𝘳𝘵𝘯𝘦𝘳𝘴𝘩𝘪𝘱 𝘰𝘯 𝘵𝘩𝘪𝘴 𝘢𝘳𝘵𝘪𝘤𝘭𝘦. ⏩ At NexChapter I'm helping clients leverage customer data they possess to drive stronger engagements. 📩 Reach out if you'd like to discuss: matt@nexchapterinc.com #digital #loyalty #convenience #cstores #ai
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Dinavahi Srinivasa Ranganadh
Walmart Data Ventures, a subdivision of the retail giant Walmart, is instrumental in providing valuable consumer data to companies and suppliers. Understanding consumer preferences and behaviors is key for businesses to tailor their marketing and sales strategies effectively. One of their innovative products, Digital Landscapes, collects comprehensive data on individuals as they browse the Walmart website, offering insights into consumer behavior, preferences, and trends for informed decision-making by suppliers and businesses. By leveraging data through Digital Landscapes, suppliers can optimize product offerings and marketing efforts, staying ahead of the competition and resonating with their target audience. Walmart's collaboration with Disney's Audience Graph features further enhances targeted advertisements, allowing for more personalized and relevant ads, benefiting both companies and their customer bases. With approximately 145 million weekly customers, Walmart's vast data collection potential significantly impacts the success of marketing and sales efforts. Walmart Data Ventures' role in providing consumer data empowers companies and suppliers to better understand consumer preferences and tailor strategies, ultimately driving business growth and delivering personalized customer experiences. #walmart #customerdata #consumerdatainsights Explore more about Walmart's customer data initiatives at the link below:
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Jeff Rudat
Amazon continuing its test & learn strategy to expand its grocery business. Also noteworthy is that it includes grocery retailers on Amazon.com, not just its own grocery ( continuing to build an ecosystem and offer more to customers) Excerpts: Dive Brief: Amazon announced Tuesday a new grocery subscription available to Prime members and customers using EBT. The subscription, which costs $9.99 per month for Prime members and $4.99 per month for non-Prime members with an EBT card, provides free grocery delivery on orders over $35 across Amazon Fresh, Whole Foods Market and grocery retailers on Amazon.com such as Cardenas Markets and Save Mart. The subscription adds to the string of changes Amazon is making to its grocery offerings as it looks to sharpen its presence as a grocer as well as bolster its Prime membership. Dive Insight: Amazon is positioning its new grocery subscription as a “low, monthly fee” that “pays for itself” after one delivery per month. “Our goal is to build a best-in-class grocery shopping experience — whether shopping in-store or online — where Amazon is the first choice for selection, value, and convenience,” Tony Hoggett, senior vice president of worldwide grocery stores at Amazon, said in an emailed statement. “We have many different customers with many different needs, and we want to save them time and money every time they shop for groceries.” Grocery delivery has been one area in particular that Amazon has grappled with recently. In January 2023, Amazon Fresh raised its threshold for free delivery to $150 but then 10 months later lowered that minimum to $100. A month later, Amazon said it started offering grocery delivery and free pickup to non-Prime members in all markets where its Amazon Fresh stores and online services operate, with plans to expand grocery delivery and free pickup from Whole Foods to shoppers who aren’t Prime members. #amazon #grocery #ecosystem
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Richard Daw
Dear Retail Friends, If you’re a wholesaler, access to data from suppliers and retail customers is critical in enabling optimal service levels with minimal inventory. But getting that data, and acting upon it, can be challenging. While there are many hurdles to this kind of collaboration, it can be done. And the benefits are numerous – not just for wholesalers, but their suppliers and retail customers as well. https://lnkd.in/dbxub36v #supplychain #supplychainoptimization #wholesaledistribution The future of wholesale supply chain collaboration | RELEX Solutions Unlock insights on boosting wholesale collaboration for supply chain efficiency and profit in this expert interview.
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Wayne Bennett
While attending the The Lead Summit in NYC, I had the opportunity to connect with many insightful industry leaders and had some great conversations with technology providers on current thinking on technology in a digital/omnichannel world and the opportunity for both brands and retailers. *Growing Retail Marketplaces to Drive Profitable Growth* Logicbroker Patrick Niersbach "It’s important that retailers continue to focus on growing their online assortments and marketplaces to drive profitable growth. With our platform you are able to harness this profitability and achieve better data integrity." #marketplaces *Sustainability* David Polinchock "80% of landfill is old clothing and today’s younger generation wants more sustainable and circular solutions. The sneaker brand On Cloud has a great sneaking leasing solution around this." #sustainability United Brand Experience *Watch what happens in apparel – learnings for FMCG Retail* Bryan Gildenberg Confluencer Commerce "With purchase rate and shopper journeys for both retail categories quite different watch for enhanced AI solutions within the apparel industry around hyper personalization and precise logistics applications" #ArtificalIntelligence *Shopper Journey Optimization* Ethan Chernofsky Placer.ai “2024 is the beginning of the omni-channel promise” technology has arrived to enable customer and shopper satisfaction" #pathtopurchase *Harnessing Fandom* Jonathan Sandak Peacock Targeted reach at scale to your biggest fans is a better way to harness business results. #Media *Making Sense of Physical Store Traffic* Jennifer Peters OLLY PBC The data and metrics from online activity needs to be better aligned with the metrics available from the data garnered from in-store traffic, behavior and dwell times. #data #storetraffic *Shopping Routines and Loyalty* Christy Ottesen Recharge Establishing purchasing routines and understanding shopper behavior for digital and emerging brands is a great way to grow recurring revenue and enhanced customer relationships. Brand subscriptions drive traffic, loyalty and enhance product usage. #subscription *In-store Shopper Journeys* Amit Kumar Dragonfruit AI "While much of the conversation is focused on Generative AI and the creative process or personalization for ecommerce, there is a growing recognition that the security camera systems in physical retail are an opportunity waiting to happen for merchants and operators. The ability to see actual customer journeys at scale is a nascent opportunity that will revolutionize the competitive space of retail and we are just getting started there." #Computervision #RethinkRetail
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Optimum Retailing (OR)
Want to read a great case study of a well-known brick-and-mortar retailer using better inventory management to win? Check out Dan Berthiaume's piece in Chain Store Age about how Michaels Stores is turning its physical stores into omnichannel supply chain hubs... ... and how better inventory management and more efficient product allocation enable it. It's just one example of how retailers that manage their inventory more effectively can win in today's competitive environment. And if you're a brick-and-mortar retailer who wants to know how to manage inventories and assortments more effectively, let's chat! #BrickAndMortar #Retail #Inventory #Assortment #Management
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Nuala O'Connor
Responsibility shouldn't be a barrier to innovation. At Walmart, we're paving the path for responsible innovation. Our team recently published an ESG brief highlighting: ▶️ The ways in which our Digital Trust Commitments are the foundation for earning and maintaining customer trust ▶️ The excellent work our #cybersecurity programs do to protect customer and business data ▶️ Our pledge to using #AI transparently and responsibly, and in ways that are in line with our values Insights worth reading! https://bit.ly/3wO0PFw
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John Harmon, CFA
We published a #RetailTech report today titled, "RFID Is the Technology That Keeps on Giving to Retailers (and Associates and Consumers)." It has three main points: 1. RFID-Driven Inventory Accuracy Opens the Door to a Slew of Other Benefits for Retailers 2. RFID Can Improve the Associate Experience 3. RFID Enables the Services that Make Customers Happy The report also discusses implications for retailers, brands and technology vendors. https://lnkd.in/eCAPNu5t Take a look here: https://lnkd.in/eCAPNu5t #rfid #retailtechnology
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Scott Benedict
With sustained inflationary pressures into early 2024, the consensus in the convenience store industry is that the consumer is looking for value with nearly every dollar they spend, according to the Convenience Distribution Association (CDA). Convenience stores typically do not have the lowest price on consumables such as candy, milk, soda, or various sundries. The trade-off on prices is the quick in and out parking at the door. #convenienceretail #consumerinsights
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Richard Daw
Hello Retail friends, “Phantom inventory” sounds like a scary term – and for good reason. It refers to goods that appear available in inventory systems but are physically missing from the shelves. The result? Lost sales, frustrated customers, and distorted demand forecasts. The good news is there is a better way, by using predictive inventory. This is a technology that leverages machine learning to identify inventory inaccuracies, improving the accuracy of automatic replenishment. It also helps retailers identify inventory gaps and their impacts on the business. It’s a powerful way to leverage modern AI and machine learning in the retail supply chain. We’ve got an entire webinar coming up about this - in the meantime read all about it, and sign up for the webinar, here: #machinelearning #ai #retail #futureofretail
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1 Comment -
Dinavahi Srinivasa Ranganadh
A very interesting article on Walmart's strategy to lure high income shoppers Walmart is rolling out a strategy to attract high-income shoppers with a new merchandise mix and fancier displays Walmart aims to compete with Amazon by targeting high-income consumers and expanding its product offerings Walmart will pilot a new merchandise mix and fancier displays aimed at high-income hipsters looking for cool stuff much cheaper inside those 800 Walmart brick-and-mortar stores. The article says private-label clothing items such as blazers and cargo pants, influenced by upscale designers like Brandon Maxwell, are more fashionably displayed inside of those stores. High-end branded grocery products and meat selections one might consider designer (e.g. duck breasts) are not only available, but reportedly selling for less than at rival grocers. Walmart's strategy involves creating a high-end shopping experience to attract more spend from high earners Walmart's previous attempts at upscale offerings, like ghost kitchens, have not been successful Target's successful "cheap and chic" strategy contrasts with JCPenney's failed attempt to reinvent itself with a similar approach Walmart faces challenges in balancing high-income shopper expectations with its everyday low-price proposition Walmart is working on attracting more high-income shoppers to its stores by offering a mix of products and experiences The success of Walmart's new strategy, Walmarche, will depend on its ability to appeal to high-income consumers and retain its existing shopper base. #walmart #highincomeshoppers #target
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John Shaw
Private brands are on 🔥. Great way for #retailers to differentiate themselves at great prices. Some of my favorite items have been new sparkling water flavors, gummy vitamins and value add mix items such as veggies and bowls. Suppliers can use private label as an opportunity to test, learn and grow their business while complimenting their own brands. #grocery #privatebrands #innovation Mana Foods
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Scott Benedict
Key EMARKETER stat: In-store retail media ad spend will reach $1.06 billion by 2028, accounting for 0.8% of all retail media spend, according to our March 2024 forecast. Beyond the chart: In-store retail media’s growth is the result of a growing number of screens at retailers. Almost all (99.3%) of retail media ad dollars will be put toward digital channels this year, per our March 2024 forecast. Digital’s share of retail media ad spend will hold steady through the end of our forecast period in 2028. However, the majority of retail sales (83.7% this year) will occur in brick-and-mortar stores, highlighting an opportunity for retailers to integrate more digital media into their customers’ in-store buying journey. #retailmedia #instoremedia #omnichannelretail #digitalmarketing
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