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Stokvels get the best deal for their money

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Stokvel

Stokvels have existed since the early 19th century and are still an integral part of South Africa’s economy. According to Stokvel Voice magazine there are more than 800,000 registered stokvels in the country with about 11-million members and a total estimated value of R44 billion. With 40% of the South African population belonging to a stokvel it’s evident that they are still considered as one of the most effective ways to save money.

Some Massmart wholesale stores, such as Witbank Cash & Carry, specifically cater to the grocery stokvel market. Members of these grocery stokvels aggregate their money throughout the year to buy in bulk and then divide their purchases among their members during the festive season.

To assist these buying groups get the best possible deal Witbank Cash & Carry has created special stokvel shopping days. Held before the festive season commences, these events prompt the proactive collection of orders ahead of purchasing, the securing of bulk discounts, provide assistance in making payments through direct deposits rather than cash, ensuring stock availability on the collection day. Furthermore they are a platform for suppliers showcase their goods, and for different stokvels to socialise as well as share and discus savings and banking tips.

Prior to these events Witbank Cash & Carry works closely with the stokvels to gain a thorough understanding of what members need and how they can deliver the right value at the best possible price. As a result common challenges such as logistics can be addressed. For example, special opening hours, the picking and packing of products, and the transportation of goods is made available beforehand for those who need it. This is extremely important for stokvel members, who need to get as many high quality goods as possible from their end-of-year spend.

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