New study shows the impact of UK retail co-ops on local communities

08 Dec 2016

A new research shows that retail co-operatives in the UK are giving back to local communities 10% of their profits, more than double the amount their competitors do (4.5%).

Carried out by Co-operative News, the Community Impact Index, reveals that the UK’s top nine co-operative retailers had a collective profit of £93m and contributed £12m to good causes in 2015. By contrast, retail competitors Asda, Tesco and Sainsbury’s recorded a collective profit of £3.3bn and gave £158m (4.5%) back to communities.

The research highlights a number of ways in which co-ops are making a difference in their communites, such as staff/member fundraising for charities, dividend grants given to community groups, in-kind support through donations of equipment and giving staff time off to volunteer for local projects.

In terms of volunteering hours, co-op retailers have donated 115,610 to communities last year. This is equivalent to 92 minutes dedicated for every co-op employee during the year.

Co-op retailers are also supporting other co-ops. The Impact Index shows that 2% of profits made by retail co-operatives are reinvested back into the movement. Last year seven of the largest consumer co-operatives gave over £2.2m to co-operatives.

The index also features interviews with community specialists from various co-ops, who highlighted that putting members first was a priority and a starting point when being there for the community.

LATEST COOPERATIVE NEWS

17 Jul 2019

The International Cooperative Alliance is…

10 Jul 2019

The President of the International Cooperative Alliance…

12 Jul 2019

The ‘Cooperatives for Development Global Conference’…