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ShopRite - The history
In 1946, ShopRite was founded when a Del Monte Foods sales representative talked to independent grocers in Newark, New Jersey. The Del Monte representative suggested the grocers tried cooperative buying when the grocers were having problems getting reasonable prices for wholesale goods. Seven of the grocers agreed; paying $1,000 each to launch Wakefern Foods, which was incorporated on Dec. 5, 1946. In 1951, the name ShopRite was conceived.
ShopRite slashed prices by 10% as an alternative to giving away trading stamps, which other supermarkets in New Jersey were doing as at 1958. The move was successful, drawing customers and helping create more ShopRite stores. Wakefern had 70 members, totaling $100 million in annual sales by 1961.
After 23 years of exiting the market, ShopRite returned to the New York Capital District in 2011. The SRS operating division opened stores in Niskayuna, Albany, Colonie, Slingerlands and North Greenbush. The Albany store opened on April 26, 2012; the Slingerlands store opened on September 30, 2012; and the Colonie store opened April 7, 2013. The newest addition was the North Greenbush location, which started in December 2017. ShopRite currently has gas stations at the Colonie and Albany locations. Plans for further future store locations had not been announced in late 2010. In 2013, ShopRite was the only unionized supermarket in the area.
Competitor A&P became bankrupt and announced plans to close or sell off all of its stores on July 20, 2015. ShopRite obtained 13 supermarkets in A&P's bankruptcy auction, including some that had been ShopRite locations before Supermarkets General broke off from the cooperative.