Coop Announces 5 Percent Rebate

Coop members will receive a 5 percent rebate on purchases made in the past school year, the Coop announced yesterday.

The size of the rebate has grown each year since 1995, reflecting increases in both membership and sales, according to Coop President Jeremiah P. Murphy Jr. '73.

Sometime in October, members will receive a check returning 5 percent of the value of their purchases made at any of the Coop's six locations as well as through the mail order and online catalogs during fiscal year 2000, which ended June 30.

The Coop posted sales of $40 million, a 3.3 percent increase over last year. Coop membership increased 22.6 percent, the largest chunk of which came from students.

Sales from the Coop's online catalog, including Harvard and MIT gifts and clothing, experienced explosive growth, increasing at 40 percent over the last year. Such sales now account for over 50 percent of non-store sales.

Coop officials said they anticipate online sales to grow as the store is able to offer a widening assortment of books and non-insignia merchandise via the Internet. Efforts at co-branding with labels like Brooks Brothers and Tiffany's have also added to online growth.

Book sales, especially at the Harvard Square location, continue to increase at a double-digit pace, despite the growth of the online book industry.

"Booksellers had a tough year last year because of online book sales, but we continued to do well not only in textbooks but in the sale of regular books as well," Murphy said. "There has been an impact from online sales, but it hasn't been dramatic enough to really affect our sales."

Students who shop at the Coop said visiting the store is more convenient than shopping online from their dorm rooms.

"I'm not used to online shopping," said Natalija Novta '04. "I like seeing what I buy. A lot of students, especially the first-years, don't have a choice [but the Coop]. But it's nice of them to offer a rebate."

Coop student board member Radim Rimanek '01 said the rebate makes the Coop unique.

"It's a really fabulous thing what the Coop does," he said. "It really tries to be a service to the students, giving back what it makes to its members."

Rimanek attributed the size of the rebate to a restructuring in 1996.

"The rebate we're seeing today is a result of the board working really hard several years ago to restructure the Coop so it could survive in new circumstances," Rimanek said. "And as far as the size of the rebates goes, the Coop always chooses to give back the maximum amount it can to students."

But rebate or no, students said they look for cheap books wherever they can find them.

"I use online shopping when it pays," said Kenneth E. Shirley '03. "I got a book used online and saved $35. I use the Coop for books I can't get much cheaper online."

But Shirley said he still looks forward to his rebate check.

"More money is always good," he said.