Published on December 6th, 2018 | by The GC Team0
Buying group CIH “looking to the future with optimism”
“Turnover is vanity, profit is sanity,” that age-old mantra… this time delivered by CIH’s new Chairman Steve Scogings as he pledged his endeavour to “reduce the cost-to-serve of our business so that every member and supplier will feel the benefit in their bottom line.”
Scogings (pictured) was speaking at the buying group’s annual suppliers’ lunch, where he offered his thanks to suppliers and stated his ambition to make CIH members the best retailers in the electrical industry.
“That will mean engaging with you and creating a mutually beneficial relationship for both of us,” he told suppliers. “For too long we have both been reducing our margins and haemorrhaging profits for the sake of the consumer. This has to stop if we want to have a sustainable business moving forward. I would like to engage with you all more to make this a reality.
“I hope you will all see that CIH is looking to the future with optimism and a belief that, if we all work together, we can improve both our business profitability as well as our trading relationship.”
Scogings also spoke about the major change CIH has undergone in the past two years, with the implementation of a new SAP System and the launch of new online platform, the rebranding of Euronics and the launch of a new associate membership initiative, which we won’t elaborate on here as all have already been advertised by the Andover-based business.
“And now for the part you’ve all been waiting for…” said the Chairman as he announced the buying group’s annual awards. CIH presents two awards at the suppliers’ lunch each year. The first, ‘The supporter of the independents’, was presented to LG’s brown goods arm for standing up to the “challenging market conditions” and giving the members “some much needed stability and, more importantly, margin.” The second, ‘The supplier of the year’, was presented to Beko brand, Blomberg – “a brand that has grown beyond our expectations and also gives us an offering that is not easily matched by our competition.”