Appleby Westward, the regional distribution company for Spar stores in the south west, is launching a new incentive scheme for retailers, offering capital funds based on purchases from the company’s two depots.
The scheme – called FUNd$4all – will provide a capital investment fund from which retailers can use earned money to help enhance their stores; either for fixtures, fittings and equipment, general upgrades or major refurbishments.
Every £1 of purchases made by retailers through Appleby Westward’s Saltash and Cullompton depots will see 0.5% put aside into a fund for each store. A retailer spending £10,000 a week would see a capital fund for the store’s own use grow by £50 a week, yielding more than £2,500 over a year to a maximum of two years on a rolling basis.
“This initiative is potentially worth over £400,000 a year in capital investments,” said John Pattison, Appleby Westward’s managing director. “It is a very effective way of adding value, giving retailers the ability to put money back into their businesses. It will help our retailers develop better shops, improve range and choice, boost sales and provide a superior shopping choice for customers.”
Retailers will receive a FUNd$4all statement every four weeks showing how much their fund has grown. To qualify, retailers will have to buy a regular daily pattern of goods in qualifying product groups to enable them to participate in the scheme.
In addition, Appleby Westward said it will continue to provide its own funds for capital support in co-investment development schemes with retailers, in new and existing stores its territory. According to the company, it has set aside nearly £2m for this purpose in 2011 and has invested over £10m in independent Spar stores throughout the south west over the last seven years.