The value of being a co-operative and being a member is fundamentally economic. Why you ask? Firstly, our members have equity in our organisation and they are paid interest on that investment – two per-cent in fact – which is above the Reserve Bank’s Target Cash Rate. This is one of the highest rates of return available in Australia’s financial markets today.
Another significant economic benefit to members is the employment of our local employees. We employ more than 300 people, with 200 of these in the supermarket. We pay $6.5 million in wages to our employees, and in-turn they spend within our community, whether at the hairdresser, petrol station, or favourite restaurant. These businesses in-turn pay their staff, who also spend their wage locally, and this is what is called the ‘multiplier effect’. It means that money spent at The Barossa Co-op is spent another six times, equating to approximately $40 million being spent in the community.
We also support over 55 local suppliers across our nine retail businesses, helping these suppliers to build their brand and sell more product.
Our goal is to enhance the way of life for our community and help local businesses thrive.
The Barossa Co-op employs more than 300 people, with 200 of these in the Barossa Fresh Foodland supermarket.