Co-op UK
From Wikipedia, the free encyclopedia
In the UK, the "Co-op" refers to supermarkets, convenience stores, funeral directors, a small number of department stores and other businesses owned by a variety of independent Co-operative societies but largely marketed and operated in a co-ordinated way. The largest retail society is the Co-operative Group, formerly the Co-operative Wholesale Society, which also leads the manufacture of 'co-op' branded products sold by most other societies.
As with all other co-operative businesses, customers of the Co-op may become members of the individual society. This enables them to have some say in the operation of the business. The Co-op traditionally provided a dividend – the "divi" – for its member shoppers, and after a period of using stamps in the manner introduced by Green Shield Stamps, returned to its principles with an electronic "Clubcard" system. The society will make a payment to the customer based on the customers' spend with the Society in the previous trading period. The co-op is not a company; it is a mutual business: it is run for the benefit of its members. It does not have to consider shareholders like private companies.
The movement was started by the Rochdale Pioneers in 1844 who set out the Rochdale Principles with the aim of providing decent food at affordable prices in a shop controlled by its customers as a Cooperative. One of the societies was founded as St. Cuthbert's Co-operative Society in 1859 and after a merger came under the Scottish Midland Co-op as the Scotmid society.
[edit] External links
Major chains: ASDA • Marks & Spencer • Morrisons • Sainsbury's • Somerfield • Tesco • Waitrose
Convenience stores: Budgens • Co-op • Costcutter • Londis • SPAR
[edit] See also
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