Advantages of Consumers’ Cooperative Society
Whenever the consumers of a particular area collectively establish a cooperative society with a view to purchasing daily necessary commodities at the optimum price this cooperative society is called Consumers’ Cooperative Society. A consumer cooperative is a cooperative business owned by its customers for their mutual benefit. It is a form of free enterprise that is oriented toward service rather than pecuniary profit.
Consumers’ cooperative society not only ensures to provide developed products but also it has enormous advantages. These are as follows:
Availability of goods at a reasonable price: Consumers usually purchase the products at high price. But by establishing the cooperative society they get privilege on every purchase. They get products at reasonable price.
Supply of goods according to choice: Cooperative collects taste and choice goods for the members of the shopping mall.
Elimination of middlemen: This cooperative purchases the product from an original producer or supplier and supply the members directly which help to eliminate the middleman.
Regular supply of goods: This cooperative society supplies the goods regularly according to the demand. Consumers feel relax to get standard goods at reasonable price.
Marketing facility: Members collect the goods from the markets which make easy to purchase as well as sell.
Development of social relationship: All consumers are the same region as well as they are strongly involved with the cooperation. That’s why it creates a positive social relationship with the people.
Increasing the income of members: The member who purchases more, he or she earns more dividends according to the distribution of dividend. It helps to develop the standard of living due to purchase privilege and earn a dividend.
Above all, the consumers’ cooperative society is a gateway for the betterment of members of the cooperative as well as all kinds of consumers. It becomes popular day by day for its welfare activities.