I recently contributed to the Co-ops customer data strategy. Cooperatives as a business model are really interesting for a world where trust in institutions is declining. Wikipedia defines cooperatives as:
“A cooperative is a legal entity owned and democratically controlled by its members. Members often have a close association with the enterprise as producers or consumers of its products or services, or as its employees.”
Customer data is enourmously valuable, not just for the business but for the customer too. Coop’s members could democratically control and use their personal data to enhance their shopping experience with Coop and other retailers. Retailers are struggling to compete with online retailers, especially Amazon. A cooperative business could differentiate by empowering their community of members with their data in the digital marketplace or even be a trusted facilitator of personal data transactions or customer identity.
Here is the keynote talk by the ODI and the panel discussion I was part at Coop’s fringe AGM event: