MediaMarktSaturn wins reta award for pilot project in category management with the startup CB4
For the first time, MediaMarktSaturn successfully used artificial intelligence in a pilot project to optimize the category management of its stores. The joint project with the AI start-up CB4 was a complete success and also convinced the jury of the Retail Technology Award (reta) of the EHI Retail Institute. For the successful test, which was conducted at 67 Spanish Media Markt stores between April and September 2019, MediaMarktSaturn received its fourth reta Award in the category Best Enterprise Solution in Düsseldorf.
Robots, Augmented Reality, cashless payment and now AI: MediaMarktSaturn receives its fourth reta for outstanding innovative achievements in retail. Following the 2017 awards for Paul, Saturn's mobile assistance robot, and 2018 for the Saturn Augmented Reality application "HoloTour with Paula" in the category "Best Customer Experience" and the cashless pilot store "Saturn Express" in Innsbruck, a reta Award in the category Best Enterprise Solution for a category management system based on AI now follows.
"The cooperation with the startup CB4 proves once again the innovative power that comes from young companies. Together with the CB4 team we have succeeded in making significant improvements in category management in the participating markets. We are all the more pleased that the result not only inspires us but also convinced the jury of the Retail Technology Award across the board", explains Sonja Moosburger, Managing Director of the innovation unit MediaMarktSaturn N3XT. "Thanks to such pilot projects, we can test tomorrow's technologies today for later implementation. We are currently planning the rollout of CB4 at MediaMarktSaturn in selected countries".
Successfully tested in 67 Spanish stores
The app-based solution was developed together with the Israeli start-up CB4 and was successfully tested in 67 Spanish Media Markt stores from April to September 2019 as part of a pilot project. With the help of artificial intelligence, it provides detailed analyses of stock levels. Every week, users receive five to ten concrete recommendations for action via an app, with which the respective product range can be additionally optimized.
CB4's algorithm analyzes consumer demand patterns and correlates them to the sales of individual products in the stores. In this way, it identifies products with high local consumer demand and forecasts sales. If a store does not reach the forecasted quantity, the software identifies the cause through machine learning and proposes concrete solutions. Based on the success of its implementation, the algorithm and its recommendations continuously optimize themselves.
retail technology awards europe
The retail technology awards europe are presented annually to 12 retail companies for the use of outstanding and innovative information technology solutions in the categories "Best Customer Experience", "Best In-Store Solution", "Best Enterprise Solution" and "Best Omnichannel Solution". The reta 2020 awards ceremony took place during EuroShop2020, the world's largest trade fair for the retail industry, on 17 February 2020 in Düsseldorf.