New Small Supplier Program provides faster
payment terms, dedicated support, and competitive terms to help
small businesses thrive
BRAMPTON, ON, Nov. 14,
2023 /CNW/ - Loblaw Companies Ltd (TSX: L);
("Loblaw"), Canada's leading
grocery retailer is introducing a new Small Supplier Program,
providing additional support and resources to more than a thousand
existing Canadian growers, bakers, vintners, and local product
creators, and making it easier for new suppliers to work with
Loblaw.
Launching January 2024, this
program is designed to empower and support new and existing small
suppliers, helping their businesses thrive and reach more customers
through Loblaw's stores. By providing faster payments, streamlined
processes, a 6-month guaranteed listing period and top-notch
support, the program makes running a small business simpler when
working with Loblaw. In doing so, the company is affording
suppliers opportunity to grow their businesses, and ultimately
provide consumers with greater choice on shelves nationwide.
"Small businesses are the lifeblood of our economy, and the path
to this country's successful future," said Per Bank, President and CEO, Loblaw. "Every day,
we experience the terrific power of innovation in many
family-owned, traditional and local producers and we want to assist
their ability to develop new products and generate a truly diverse
and inspirational range. By making the onboarding and
retailing process easier for small businesses, our goal is to
reduce their time and costs, to the benefit of all Canadian
customers."
Key highlights of Loblaw's Small Supplier Program include:
- Faster Payments: Loblaw will reduce payment terms
to up to a maximum of 7 days for new and existing small suppliers.
This improvement will enhance cash flow for suppliers, enabling
them to reinvest in their businesses as they see fit. This change
will especially support our farmer partners and the unique
challenges of managing the growing season.
- Dedicated Small Supplier Support: Loblaw wants to
give its small suppliers the support they need to succeed. This new
approach will include dedicated team members at Loblaw's office and
regionally, as well as training and resources to help small
suppliers thrive.
- Assistance for Small Suppliers: The process of
getting products on retailer shelves can be complicated. Loblaw is
committed to making this easier for small suppliers, including
adjustments to supply chain programs and subsidizing retail
industry fees to provide small suppliers with an opportunity to
progressively stabilize and grow more effectively.
- Six-month guaranteed listing period for new small
suppliers: Building and growing a solid customer base can
take time, which is why Loblaw's new program provides a six-month
on-shelf commitment, while waiving associated listing fees, giving
new suppliers the opportunity to test their products with greater
ease.
Already Canada's largest
agri-food customer, Loblaw has an existing roster of over 1,000
small businesses. This includes growers, bakers, vintners, and
product creators, who fulfill customer demand for local favourites
and freshness.
"The fresh fruit and vegetable industry is a fast-paced business
environment which represents many small local growers and
business owners," said Ron Lemaire,
President, Canadian Produce Marketing Association. "Providing these
small businesses with the opportunity to access the market using
this program can be a catalyst to their success."
"Running and developing a small business includes plenty of hard
work and lots of administration. Our Small Supplier Program
provides a constructive, meaningful and simple way for small
suppliers who need it the most to get their products onto our
shelves in order to thrive and flourish," continued Bank.
To learn more about Loblaw's Small Supplier Program and explore
the opportunities it offers, please visit
Loblaw.ca/smallsupplier.
About Loblaw Companies
Limited
Loblaw Companies Limited is Canada's food and pharmacy leader, as well as
its largest retailer and private sector employer. With
approximately 2 billion transactions each year in its unmatched
network of 2,500 stores and national e-commerce options, Loblaw
brings food, pharmacy, beauty, apparel and financial services to
customers through many of Canada's
favourite and most-trusted brands: President's Choice, No Name,
Loblaws, Shoppers Drug Mart, No Frills, Real Canadian Superstore,
T&T, Joe Fresh, PC Express and PC Financial. The
company's loyalty program, PC Optimum, has more than 18 million
members and is one of Canada's
largest and best-loved reward programs.
Loblaw's purpose is to help Canadians live life well. It makes
good food affordable, health, beauty and wellness accessible,
saving for the future possible, and essential style achievable.
SOURCE Loblaw Companies Limited