Retailer-sponsored cooperative
Retailer-sponsored cooperatives are organizations formed by retailers who come together to improve their purchasing power, marketing efforts, and overall competitiveness in the market. These cooperatives allow retailers to combine their resources and work together to achieve common goals.
One example of a retailer-sponsored cooperative is Ace Hardware, which is a cooperative of independently owned and operated hardware stores. By joining forces, Ace Hardware retailers are able to benefit from bulk purchasing discounts, shared marketing campaigns, and access to a larger customer base.
Another example is Best Western International, a cooperative of independently owned and operated hotels. Best Western hotels benefit from a global reservation system, centralized marketing efforts, and a strong brand reputation, all of which help them compete with larger hotel chains.
Overall, retailer-sponsored cooperatives provide smaller retailers with the resources and support they need to compete in the market and thrive alongside larger competitors.