Capricorn has been returning wins for its Members for almost 50 years. But it’s not only Members who benefit from participating in Australasia’s largest automotive cooperative. Recent financial results clearly show that Capricorn Preferred Suppliers are big winners too.
The Capricorn Preferred Supplier network, who provide high quality products and services to more than 20,000 Capricorn Member workshops across Australia and New Zealand, are the backbone to the cooperative’s success.
These Capricorn Preferred Suppliers operate in a healthy environment that provides strong repeat business. Capricorn drives sales by incentivising Members to always purchase the quality automotive products they need from a Capricorn Preferred Supplier. One powerful motivator is the Capricorn Rewards program, which is one of the most generous in Australasia, returning 1.5 points on almost every $1 spent, with every 100 rewards points worth $1. In addition to the financial incentives, Members also receive instant trade credit and consolidated billing with all Preferred Suppliers, making it a much more convenient way to trade.
This cooperative dynamic results in a true win-win relationship both for Members and the companies that have become Capricorn Preferred Suppliers. Many automotive component manufacturers, distributors and service providers have seen consistent, long-term sales growth through Capricorn.
Working to win each Capricorn Preferred Supplier more loyal customers, a team of almost 70 full time Capricorn field staff act as their defacto sales teams, visiting Members to inform them of the latest products and services available through the network.
Once a supplier joins Capricorn’s Preferred Supplier ranks, their companies are featured in the Capricorn Purple Pages Directory. Capricorn Members use this directory when seeking parts, tools, equipment and services on a daily basis. This directory is also used to source office essentials for Capricorn Members, providing opportunities for non-automotive companies to become Capricorn Preferred Suppliers.
Capricorn Preferred Suppliers can benefit further by conducting their own Capricorn Rewards promotions to further incentivise sales of specific products, brands or services.
The proof of Capricorn’s win-win success both for its Members and Preferred Suppliers is very clear. During 2018/19 in Australia and New Zealand, Capricorn Members purchased a staggering $2 Billion of Preferred Suppliers’ products, returning $35.9 Million to Members in Capricorn Rewards points.
Capricorn Preferred Suppliers can also save on the costs of doing business, with the expenses of credit checks, debt collection, invoicing, office bookwork and administration being greatly reduced.