ONCOST Cash & Carry, the first and only cash and carry concept in Kuwait, held a press conference recently to showcase the company’s expansion strategy for the next two years in the Kuwait market.
Sharing the story behind establishing the concept and the results of diligent market studies on which the business was modeled, the CEO of ONCOST, Saleh Al-Tunaib, said, “The ONCOST concept came as a result of the continuously evolving market and the need to provide customers with a new wholesale shopping experience with utmost convenience and value under one roof.”
Revealing some of the key findings from market studies, Al-Tunaib said that the studies, conducted by specialized international firms, showed the lack of modern retail and wholesale formats under one roof at convenient locations in the country. More specifically, the lack of retail and wholesale formats that cater to various customer categories within close proximity that provide selected assortments of food and non-food categories that are typically used by households, hotels, institutions, restaurants and groceries.
On the same note, he pointed out that ONCOST’s pricing policy is configured to offer competitive prices by the unit and wholesale prices by the carton thus passing substantial savings especially to those customers having large volume consumption. Moreover, and unlike the traditional wholesale market, ONCOST offers customers the experience of wholesale shopping in a modern environment, featuring trained staff, high cleanliness and hygiene standards.
Al –Tunaib added, “Since its launch in 2011 with one store in Sulaybia, ONCOST Cash & Carry has witnessed double digit growth, proving that the concept has been very appealing to customers.” Capitalizing on its success, Al Tunaib revealed that a series of stores would be opened in 2016. The second inauguration will be in early March in Hawally on Tunis Street and will be followed shortly by another store inauguration in Fahaheel.
Speaking on the occasion, the COO of ONCOST, Remesh TA, stated that the company has a large expansion plans to open a number of outlets in all major parts of Kuwait. Al-Tunaib concluded on a highly optimistic note about the future of ONCOST Cash & Carry, which he said will hold a distinct competitive edge in the Kuwait market.