Divi scheme helps Co-op beat downturn
The ‘Divi’ card scheme operated by the Scottish Co-op has helped its profits grow by 5% to a record £581.3m in the last year.
The dividend plastic card scheme was launched in 1997 and lets customers collect points based on their purchases which are converted into a share of the profits.
The Scottish Co-op has 303 stores in the country and an 8% share of the country’s grocery market.
Payments under the Divi scheme are made twice a year and around 400,000 shoppers have joined the rewards scheme by becoming Co-op members.
Scottish Co-op chief officer John McNeill said: “Although we are not immune to the economic downturn, it’s worth remembering that, as a co-operative organisation, it’s our members who benefit from our financial achievements.
“No faceless city traders can speculate on our business.”