Oxford, Swindon & Gloucester Co-op is relaunching its dividend with the introduction of a superdividend card.
Customers will no longer receive dividends as point of sale discounts but as points earned on the card. Shoppers earn points on the card not only by paying for products and services, but also from every 10 visits to a store and by attending the society’s meetings.
Consumers can exchange the points for a share in half-year and full-year dividends, which will be distributed in the form of vouchers. The vouchers can be spent at any OS& G Co-op business. Members may also give their dividend to charity or pay it into a society share account.
Chief executive Bob Burlton said: “The new superdividend will enable us to recruit large numbers of new members, increase their loyalty to the society, promote trading and increase sales and profits.”
The society said the system would also enable it to track shoppers’ spending habits.
Customers will no longer receive dividends as point of sale discounts but as points earned on the card. Shoppers earn points on the card not only by paying for products and services, but also from every 10 visits to a store and by attending the society’s meetings.
Consumers can exchange the points for a share in half-year and full-year dividends, which will be distributed in the form of vouchers. The vouchers can be spent at any OS& G Co-op business. Members may also give their dividend to charity or pay it into a society share account.
Chief executive Bob Burlton said: “The new superdividend will enable us to recruit large numbers of new members, increase their loyalty to the society, promote trading and increase sales and profits.”
The society said the system would also enable it to track shoppers’ spending habits.
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