The cooperative store’s profit is Rs. 25 lakh this fiscal
ERODE: Erode District Consumer Cooperative Wholesale Store Chinthamani has embarked on a customer loyalty programme.
The store is in the process of issuing loyalty cards to customers purchasing goods over Rs. 500, says Siva Muthukumarasamy, special officer.
In addition to making customers eligible for the card, the Rs. 500-plus purchase also makes way for a 2 per cent discount.
During subsequent transactions in any of the Chinthamani outlets, card-holding customers can avail of discounts.
The move, Mr. Muthukumarasamy says, is part of the Cooperative Stores efforts aimed at boosting income and promoting brand image.
In the just-concluded 2008-09 financial year, Chinthamani has earned about Rs. 25 lakh in profit, up from previous financial years Rs. 15.28 lakh. To earn the profit, it has sold controlled items worth Rs. 29.89 crore and uncontrolled items worth Rs. 33.59 crore.
The former are those items like rice, wheat and kerosene on which Government lays certain restrictions.
In the current 2009-10 financial year, it hopes to sell uncontrolled items worth Rs. 54.60 crore to further increase the profit.
Chinthamani also manages two refuelling stations in Thindal and Bhavani. And the two make a decent profit. As on March 2009, it managed to sell fuel worth Rs. 12.25 crore.
The highlight of the operations the Cooperative Store carries out is its pharmaceutical wing, where customers are offered a flat 12 per cent discount on the maximum retail price. In the last financial year, it added two more medicine shops to its seven, and sold drugs worth Rs. 6.89 crore.
And, Chinthamani also sells mobile phone recharge coupons worth about Rs. 3.7 lakh a month. That apart, Mr. Muthukumarasamy says the Store will add two more shops with pharmaceutical wings, as it has lost three during the district bifurcation.
To compensate the loss of retail outlets in Dharapuram, Kangayam and Vellakoil, new stores will be opened in Anthiyur and Punjai Puliampatti.