Union Coop Spends more than AED 170 Million in 2018 on ‘Consumer Happiness’
Union Coop, the largest consumer cooperative in the UAE revealed that it spent more than AED 170 Million to implement 70 lucrative promotions and other weekly offers since the beginning of the year until the last week of 2018. Out of the mentioned figure, AED 75 Million were allocated towards price reduction of 15000 consumers products during the Holy month of Ramadan, and AED 55 Million to reduce the prices of thousands of commodities, as well as offering many valuable prizes to consumers on the occasion of the 47th National Day for 47 days. Moreover, AED 25 Million were invested Union Coop’s suppliers to reduce the commodity prices during the holy month of Ramadan and AED 15 Million to reduce the prices of thousands of products during the National Day celebrations.
H.E. Khalid Humaid Bin Diban Al Falasi, CEO of Union Coop said, “Union Coop works within the framework of Preplanned reduction of the price of commodities by direct contracting with suppliers and exporters of goods, thereby eliminating and reducing the intermediaries to the maximum possible extent. We’ve also introduced our own ‘Union’ brand products to keep the pricing as low as possible for our valuable consumers. In addition, our suppliers collaborated in price reductions to avoid manipulations in the market.”
“Our main aim of such huge budget is to offer lower prices of the products and attractive shopping experience with high value to our valued shareholders and customers at the best price while maintaining international standards for the satisfaction of our valued customers, and to enhance our services according to the best international practices. Moreover, providing the support to the community in line the strategic national goals.”
He further explains, “Union Coop increased its promotional campaigns to 70 in 2018 in line with year of Zayed, compared to 53 in 2017, which were aimed at providing many goods and products to the consumers at the best prices. Each of these campaigns targeted 250 to 10 000 food and non-food items, with discounts going up to 90 per cent. The most-sought commodities in these promotions were NOT-limited to the likes of as rice, oil and meat, vegetables and fruits, as well as electronics and household appliances.”
“A smart consumer, who is concerned about the quality of the product should investigate how the product is stored as well, and not just worry about the way of display but also the source of supply and way it stored to be as per the Global health standards and practices.”
“The growth in net profits is the result of continuous expansion, wherein you see new branches opening in different locations of Dubai to reach maximum consumers. The increase in profits will directly lead to increased community contributions as well,” says Al Falasi.
Union Coop has spent millions of Dirhams on community services in sectors of charitable, educational, health, cultural, religious and security since the opening of its first branch in 1984 in Satwa.
On a smarter business approach of Union Coop, Al Falasi says, “Union Coop does not believe in increasing its branches and ultimately business only in the traditional way, but also by promoting ‘online shopping’ as well. By adopting the new approach to shopping, we can attract new customers who prefer to shop this way, and offer them an enjoyable experience that suits their needs and living standards.”
“Union Coop’s online store offers more than 20 000 food and non-food products with delivery services and many additional benefits including access to discounts and points of loyalty programs ‘Tamayaz’ along with promotions and discounts for the shopping site and the policies of replacement and returns of goods as well.”