New store format saves up to 20% on food and
household necessities
BRAMPTON, ON, Aug. 22,
2024 /CNW/ - Loblaw Companies Ltd. (TSX: L),
("Loblaw") today announced its plans to pilot a new concept,
value-based no name store in three Ontario markets. The no name store will
help customers save up to 20% on everyday grocery and household
essentials, by lowering operating costs and carrying only a
targeted assortment of products.
"Our goal is simple – providing food and essential household
items across a limited range of national brands and no name
brand products at our lowest possible price," said Per Bank, President and CEO, Loblaw. "Since food
inflation took off globally, we have been laser-focused on doing
what we can to keep prices lower for customers, including opening
more discount food locations in more parts of the country. This new
test concept allows us to pass on lower prices to our customers –
it's a completely different and simplified shopping
experience."
The no name stores are reducing operating costs through a
variety of ways, including:
- Shorter operating hours (10am-7pm)
- Smaller assortment means the store is less complicated to
run
- Limited marketing and no flyers
- No refrigeration (no dairy or fresh meat products)
- Reused fixtures – shelves, cash lanes – to minimize building
costs
- Fewer weekly deliveries, reducing logistic costs
"Our commitment to customers is that products at the no
name store will be up to 20% less than the regular retail price
on a comparable product at any of the four main discount grocers in
that local area. These no name stores will have a limited
selection of 1,300 products, but these are many of our top-selling
pantry staples and household goods throughout the province, so we
know they're what customers buy most and what will bring them the
biggest savings," said Melanie
Singh, President, Loblaw's Hard Discount Division. "This is
a test and learn project, and we're planning to listen and adjust
quickly. The pilot is unchartered territory and while success isn't
guaranteed, our commitment to creating value and meeting customer
needs remains unwavering."
Customers can expect a small range of frozen food items,
complemented by pantry staples, household necessities, and
shelf-stable bakery and produce items including bread, bagels,
apples, bananas, peppers, and carrots. This curated line up of
products ensures every item on the shelves contributes to the
store's mission of affordability and quality.
The no name store is piloting in three markets in
Ontario, beginning in September 2024: Windsor, St.
Catharines, and Brockville.
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 over 1
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 16 million active 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 - Public Relations