A consumers co-operative store is a retail organisation owned, managed and controlled by the consumers themselves to obtain products of daily use at reasonable low prices. Its objective is to eliminate profits to middlemen by establishing a direct contact with the manufacturers.
People belonging to middle and low income groups, at least 25 persons have to come together to form a voluntary association and get it registered under the Cooperative Societies Act.
The capital of a co-operative store is raised by issuing shares to members. The management of the store is democratic and entrusted to an elected managing committee, where “one man one vote” is the rule.
The co – operative stores are very famous in Tamil Nadu. For example, Kamadhenu and Chinthamani co-operative supermarkets in Chennai, Karpagam in Vellore, etc.
