ONCOST to open 3rd branch in Fahaheel
ONCOST Cash & Carry, the first and only Cash and Carry concept in Kuwait will be opening its 3rd store in Fahaheel on 4 May at 5pm. ONCOST Cash and Carry offers customers a carefully selected assortment of products popular with almost everyone in Kuwait as well as the experience of wholesale shopping in a modern environment.
Sharing the story behind concept, the CEO of ONCOST, Saleh Al-Tunaib, said, “The ONCOST concept came into existence as a result of the evolving market and a need to expand our horizon and provide customers with a new convenient shopping experience under one roof.”
Speaking about the imminent launch of their 3rd branch in Kuwait, Remesh TA, Chief Operating Officer of ONCOST said, “The opening of this latest branch in Fahaheel, is a clear sign of our commitment to strengthening the Group’s activities in the country. It is also an attestation to the popularity of the brand and the wide support ONCOST enjoys among customers here. We are grateful for this trust and will continue to meet and exceed the aspirations of shoppers looking for quality products at affordable prices. Since our inception we have been famous for always offering customers enormous value in their shopping. We are sure that our newest branch will replicate the success of the two other outlets in the country, and deliver to customers the widest selection.”
The decision made by ONCOST’s parent company to become pioneers of the Cash and Carry concept in Kuwait is in response to a lack of development in the country’s wholesale market, which is very well established and has always been highly successful. However, as Mr. Al Tunaib points out, the industry has not continued to update itself, and has not adapted to handle the trends and challenges of today’s market. “This is one of the reasons why we decided to enter the market and offer a new professional concept in the form of a wholesale shopping experience,” he explains. “The extent of goods and services that we offer under one roof is unparalleled in the traditional wholesale market, which has resulted in both HORECA customers and large households being attracted to our concept. ONCOST is flexible and amenable enough to adapt to and accommodate the needs of the market, and this has been our goal since the establishment of the company and the opening of our first store.”
Commenting on the most prominent trends and challenges in Kuwait’s retail market at present, Mr Al Tunaib pointed out how the country differs from its neighbours: “In recent years, we have observed negative trends in nearby regional retail markets, some of which have shrunk by as much as 20 percent each year, but we feel that Kuwait’s retail market is a little more resilient than those of other countries. Indeed, our forecast for 2016 is certainly positive – we foresee growth in our top lines and from the new stores that we intend to open – especially since we are the only company offering the Cash and Carry model in Kuwait,” he states.
ONCOST is continuously evolving and customers are provided with a new wholesale shopping experience with utmost convenience and value under one roof. It is a balanced combination of Retail and Wholesale formats that cater to various customer categories within close proximity, providing an assortment of items within the food and non-food categories used typically by households, hotels, institutions, restaurants and groceries. On the same note, 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 making large volume purchases. Moreover, and unlike the traditional wholesale market, ONCOST offers the experience of wholesale shopping in a modern environment featuring highly trained staff, excellent cleanliness and hygiene standards. Professional businesses and households alike will be attracted to the amazing level of value found at the store.
The new ONCOST store is conveniently located in Fahaheel, Industrial Area, opposite Mina Al Ahmadi Refinery, Block 5 Khalid Al Safih street-213, Building 40. Ample parking is available providing easy access. The store will be inaugurated on May 4th and working hours are from 6:30am to 11:00pm.