Union Coop: Price Fluctuations Linked to Climate Changes and Seasonal Variations

Union Coop: Price Fluctuations Linked to Climate Changes and Seasonal Variations

Dubai, UAE:03 October 2024

Dr. Suhail Al Bastaki, Chief Community Relations Officer at Union Coop, addressed numerous inquiries regarding rising prices of certain products due to global economic factors. He clarified that no specific product has been uniquely affected by these factors. Instead, he noted that price increases for some items, particularly fresh produce, are primarily due to seasonal changes and climate variations, which can occasionally drive prices up. Additionally, transportation and supply chain processes also play a significant role in pricing.

Dr. Al Bastaki emphasized that the Cooperative continues to conduct promotional campaigns on high-demand products to meet consumer needs and enhance customer satisfaction, taking into account diverse shopping culture of the emirates.

He explained that price discrepancies for the same products across different stores arise from various non-global factors, including rental costs that vary based on strategic location, proximity to vital areas, land ownership, capital investment, product quality, origin, packaging details (such as shape, size, and weight), storage methods, and packaging appearance. Furthermore, promotional offers can impact whether products are sold at their original price or at a discounted rate, highlighting the importance of these elements in pricing strategies.

The Chief Community Relations Officer also addressed the obligations of companies regarding the return and withdrawal of defective or non-compliant products from the cooperative. He mentioned that Union Coop adheres to consumer protection laws, which stipulate that defective items must be withdrawn if a defect is discovered, if there are reports confirming the defect, or if consumer complaints arise. Companies are required to notify the public through official channels about any product defects to ensure consumer awareness and safety.

He noted that Union Coop plays a significant role in mitigating price discrepancies by conducting weekly market surveys to monitor price variations and implementing appropriate measures. The cooperative aims to create a safe and conducive environment for consumers, ensuring they have access to accurate information about the products they purchase or use. Continuous educational and awareness campaigns are organized in collaboration with relevant authorities to inform consumers about their rights and responsibilities.

Moreover, Union Coop regularly organizes weekly and monthly promotional campaigns to delight consumers, offering competitive and reduced prices on essential goods and launching initiatives to stabilize prices on frequently purchased food and non-food items.