Farm and City is an example of a retail cooperative society. Image credit herald.co.zw

Farm and City is an example of a retail cooperative society. Image credit herald.co.zw

ZIMSEC O Level Commerce Notes: Retail Trade: Retail Cooperative Society.

Retail cooperative society

  • a large scale retail outlet found in the private sector
  • formed by customers to enable bulk buying from manufacturing companies at low prices
  • may buy from cooperative wholesale societies
  • sells to both members and non-members
  • membership is open to customers by paying a subscription or buying shares in the cooperative
  • each member is entitled to one vote that is there is democratic control
  • members elect a management committee
  • members are paid dividends after a year or get a rebate which is an amount of surplus shared in proportion to the amount they would have spent in purchasing goods in the cooperative society
  • sells a variety of goods at low prices
  • may offer special benefits to members e.g scholarships or death benefits
  • members may be trained in business management
  • members may buy on credit
  • raises a large amount of capital to start the retail outlet
  • members exchange information and ideas

To access more topics go to the Commerce Notes page.

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