Farmlands tops competitive price survey again

Media Release For Farmlands Trading Society

Farmlands tops competitive price survey again

25 March 2009
FOR IMMEDIATE RELEASE

Tougher times mean tighter belts, so for Farmlands shareholder Tim Grieve it’s a relief to get good news instead of bad for a change.

Farmers like Tim and others keen to save money can continue shopping at Farmlands with peace of mind, now that a recent survey has once again confirmed Farmlands Trading Society is the North Island’s most price competitive rural retailer.

The survey, undertaken by an independent research company engaged by Farmlands, compared pricing across a range of goods from the five main rural retailers in the North Island. The everyday shelf prices of 31 products were assessed, with the spotlight on items ranging from gumboots and raincoats to fencing wire and drench.

The survey results provided positive news for Farmlands shoppers, as Farmlands prices were below average for 22 out of the 31 products surveyed. Overall, the company was ranked the most cost effective retailer for 10 of the products, making Farmlands the highest ranking of all retailers surveyed.

What’s more, if the 3% loyalty rebate paid to shareholders on all store purchases last year had been factored in, Farmlands would have had below average pricing for 27 of the 31 products surveyed, and been ranked the cheapest retailer for 17 of the products.

These results come as no surprise to Tim Grieve, who became a Farmlands shareholder 13 years ago when he bought his first farm. With Farmlands as their main supplier, he reckons he’s reaped the benefits ever since.

“In the past I used to shop around but now I don’t bother – it always ended up being a wasted exercise because Farmlands usually came out the cheapest anyway,” says Tim.

“Their range of products is good too – there’s always a large volume of stock. Like a one-stop-shop. In these tougher times we really need to keep costs as low as possible, and that’s where Farmlands comes in. I’m happy shopping there and knowing I’ve got a great deal, and it makes the bank manager happier too!”

Farmlands Chief Executive Officer, Peter Ellis says the survey is a pleasing affirmation for a company which was established with the aim of lowering costs to farmers.

“Farmlands core objectives are supplying shareholders with products and services at lower everyday prices and delivering shareholder returns in the long term. The latest survey results prove we are still doing that, and in today’s economic climate that’s more important than ever,” says Peter.

Farmlands undertakes independent surveys regularly to monitor pricing and ensure it is continuing to provide its customers with the best possible value. The positive pricing survey result follows on from last year’s success, when the rural retailing giant recorded its best ever annual results in the company’s 47-year history.

Farmlands declared an $82 million increase in turnover to $442 million from 1 July 2007 to 30 June 2008, 23% up on the previous year. The company has also distributed over $29 million of trading and loyalty rebates amongst its members since 1962.

Everyone can take advantage of Farmlands quality range of products and services at great prices, but to benefit from discounted shareholder prices and receive the loyalty rebate you need to be a Farmlands shareholder.

Anyone can become a shareholder by simply completing an application form and paying a one-off fee of $550.

“It’s money well spent,” says Tim Grieve.

“For me it has been a really worthwhile investment, receiving yearly rebates as you go along and getting the benefit of great service, helpful staff and years of collective experience. Everyone’s more than helpful, sharing knowledge and insight from their own years on the land, or from what they’ve heard has worked for other farmers.”

ENDS

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