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:

  1. 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.
  2. 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.
  3. 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.
  4. 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

Copyright 2023 Canada NewsWire

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