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What is a buying basket and how can your business benefit from joining a basket?
A Buying Basket is a procurement method where a group of businesses pool their business requirements to create increased buying power.
Simply put, the more members in the basket, the bigger the buying power and the bigger the savings!
Buying Baskets are commonly used for large businesses like McDonalds and Tesco where dedicated procurement specialists manage buying baskets. This harnesses the combined buying power of all the branches together which allows the scheme managers to have maximum buying power in negotiating rates within the wholesale markets. The Cooperative are now making this powerful procurement method accessible to small & medium businesses. We are uniting Scottish Businesses to create significant buying power by opening a number of buying baskets for several products. Our first baskets will open October 2025 with regular baskets opening during the year.
When your business is searching for new products or services, rates are in most cases much more competitive if you are using more of the product or service you are purchasing. For example, in the case of energy, the more energy your business uses means you pay a lower unit rate, and similarly in payments & card processing the higher the transacted value through your business card terminals allows access to more competitive rates and offers. In simplest terms, the more your business uses for any product, the better the deal. When you join one of our buying baskets, we combine your requirements along with those of the other basket members and use this to leverage much better prices. For example, with gas, you get access to rates based on the collective usage of the basket rather than your business on it's own. Our procurement baskets are opening up buying power that has so far not been available to small business owners. The more businesses we add to the basket, the bigger the discounts and the better the benefits! We need your business onboard to make this work. Together, Scottish Businesses can achieve a much fairer deal!
To find out more about joining one of our baskets, register interest by clicking the button below. Each basket has a closing date for registering so please watch out in our news section for information of when new baskets are opening.
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