Wednesday, 08 September 2010
WHAKATANE people who become customers of the new EasyShop supermarket will be able to become shareholders in the business.
The Tauranga businesswoman behind the supermarket, Janine Arabella, told the Beacon that 49 per cent of EasyShop’s shares would be made available to its Whakatane customers.
However, progress in fitting out the supermarket at the old Countdown site in Kopeopea has hit a snag.
Last Friday teams of contractors working there were sent home because building consents from Whakatane District Council had not come through.
Ms Arabella said about 30 building issues needed resolution before work could be completed.
Hopefully that would happen in the next few weeks and the supermarket would be opened next month.
She is yet to disclose who is supporting EasyShop, saying its backer wanted to remain anonymous.
She described EasyShop as being owned by “the people of New Zealand for the people of New Zealand” and said that by opening up the shareholding to customers they would have the opportunity of getting something back from their grocery bill.
Regular customers would be given first option to buy shares, which would entitle them to a yearly dividend which could be used as a discount off their grocery bill or to spend on some kind of luxury item.
Shares would be issued in 5000-share parcels for individuals or 10,000 for couples.
Ms Arabella said this was based on an average grocery bill of $100 a week for each person or $5000 a year.
The customer-shareholder concept had worked successfully in Britain and in the United States.
She would not reveal more of EasyShop’s operational details and plans because of the competitive nature of the supermarket industry.
Ms Arabella said she was aware that both Progressive Enterprises and Foodstuffs were keeping a close watch on EasyShop and had inspected developments at the site in Kopeopeo.
Progressive Enterprises, which owns the Countdown and SuperValue brands, is an Australian publicly-listed company, while Foodstuffs, with its Pak‘n Save and New World brands is an operator-owned New Zealand co-operative.
Progressive Enterprises and Foodstuffs control the New Zealand supermarket industry and EasyShop is a new entrant.