Global Courant 2023-05-28 14:41:00
Main image: Makro
The National Stokvel Association of South Africa (NASASA) values the country’s thriving stokvel industry at over R45 billion, based on the staggering 11.4 million registered members by 2022. Recognizing the importance of these clubs in helping South Africans To cope with the rising cost of living, Andrietta Van Veijeren, National Commercial Sales Manager Wholesale at Massmart, highlights how Makro is giving stick sheets more purchasing power through bulk discounts and various money-saving benefits.
Stokvels, especially grocery stickvels, have grown in popularity among budget-conscious South Africans, helping them save money. To get the most out of these community savings programs, members should set clear goals for their clubs and take advantage of stick skin-specific deals, such as Makro’s tailored discounts on frequently purchased, in-demand products, especially during peak stick skin buying seasons, according to Van Veijeren.
Whether you are considering starting a grocery business or have recently joined one, Makro’s advice will help you maximize the value of your investment.
Determine Stokvel’s objectives.
Setting clear objectives for your stick sheet is critical to its success and maintaining a strong sense of purpose among its members. Determining the fixed monthly contribution and determining the structure of the stick sheet, including whether the payouts are monthly and rotate or are paid out at the end of the year, are all part of setting goals when setting up a grocery stick sheet.
Certain retailers specifically target stick sheet payout structures. For example, Makro offers a savings option with which these clubs can deposit their collective money into an account. Members who take advantage of this offer can make significant savings, receive monthly statements of their savings progress, and receive numerous discounts when making bulk purchases or splitting their orders, helping them stretch their edge even further.
Draft a Stokvel constitution.
To build a solid foundation for your bill sheet, create a comprehensive bill sheet bylaws that outlines rules, guidelines, and member responsibilities. This document should cover a variety of possible scenarios, such as when members are unable to contribute or want to withdraw money unexpectedly.
Bylaws help to avoid disputes, promote trust between members, provide clarity and promote the proper functioning of the stock sheet.
Create a separate Stokvel bank account.
To improve transparency and security, members should open a bank account in the name of the stick sheet. This special account allows the group to keep a detailed record of the transactions and protects the pooled funds. It is recommended that the account requires multiple signers for transactions to reduce the risk of unauthorized access.
Take advantage of Stokvel Deals with added value
To maximize the benefits for Stokvel members, they should take advantage of Stokvel value-added deals. Retailers are now offering deals specifically designed to increase the collective buying power of stick sheet groups. These offers may take the form of exclusive discounts, bulk purchase promotions, special pricing or loyalty rewards.
Stokvel members can stretch their budget even further and save even more on their purchases by actively seeking out and taking advantage of these value-added deals.
Finally, Makro recognizes the importance of stokvels in enabling South Africans to meet the challenges of the rising cost of living. Stokvel members can maximize their purchasing power, save money and ensure the success of their joint savings initiatives by following the advice given.
