Union Coop’s launches its Competitive Prices Guaranteed Policy to Assure Matching its Prices to competitors
Prepared By: Benoi Nair
The Policy is to serve all its shareholders and loyalty program (Tamayaz) gold card members
H.E. Khalid Humaid Bin Diban Al Falasi, CEO of Union Coop, announced the most recent Union Coop’s policy by launching an initiative in which it pledges to all its customers – shareholders and holders of GOLD Tamayaz Card Holders, to match purchase prices from Union Coop with other competitors in Dubai market. Pointing out that the difference amount will be returned to the consumer under certain conditions that are followed and studied by the cooperative by adding the difference amount in the Tamayaz card that was used at the time of purchase.
This announcement came during a press conference organized by Union Coop on Thursday, May 19, 2022, at its headquarters in Al Warqa City Mall, attended by representatives of Media agencies, and part of Division and Department Directors and Staff.
The CEO pointed out that the initiative is ‘one of a kind’ in Dubai, which will motivate other retailers to offer products at competitive prices to the benefit of the consumers. Additionally, the new policy will enhance consumer confidence in shopping while securing his rights, since everything will be in his favor.
Further, he explained the need of such policy at present as this will limit price rise and will support free-flow of commodities, as these are the primary indicators of price control. The primary goal of this initiative is social welfare as it will enable the availability of basic food commodities and other necessities at competitive prices compared to the prices offered to ensure stability in the markets. Hereby noting that there is no outlet that can claim that the prices of its products are the cheapest and best in the market, as there will be always a discrepancy in prices between one outlet and another, and it is necessary to measure, compare and be guided in the value of the food basket in the end.
He indicated that the cooperative has set specific conditions for a consumer to benefit from this policy, such as – refund request should be made within a 24-hour window after the purchase of the product, the compared product should be identical in brand, size, color, packaging and country of origin, in addition to the barcode. Additionally, the validity of the competitor’s product must not be less than the validity date of that of Union Coop’s. The product must not be among the promotional offers, wholesale or clearance, express or short special offers or for a limited quantity or special offers related to other events, and does not include pricing errors from competitors. Products purchased through ‘pick-up’ services (click and collect) are not included in the policy. The policy does not include fresh products such as fish, vegetables, fruits, butchery and dairy products as the prices vary on a daily or a weekly basis.
He pointed out that the cooperative provided the consumer with the convenience of submitting a ‘refund request’ through the branch from which the purchase was made within 24 hours from the date of purchase, where the manager of the same branch will conduct the initial review of the request, and inform the consumer if the request is rejected or there are deficiencies to complete. after which the price difference will be returned to the consumer, and in case of rejection, the buyer or the applicant will be contacted through branch, and clarify the reasons that led to rejection.
He explained that the cooperative constantly launches promotions on a weekly and monthly basis to provide products at discounted prices to consumers, pointing out that the cooperative always seek to satisfy its consumers and provide them with everything new to delight them.
At the end of his speech the CEO stressed that everyone should take the information, news and quotes from a reliable official sources and not consider rumors of unknown source and circulate them on social media platforms, especially since some members of society rely on social networking sites and pass information from those sources, noting that the laws in the country criminalize spreading rumors and false information that would affect economic establishments or any facility, indicating that members of society should have a communal sense and personal responsibility to investigate the accuracy of information before publishing it.