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Examines the concept of perceived value with data collected from 1,323 members in four retail co-operatives. A set of six factors was found to have effect on members’ perceptions of the value of products and services they received from their retail co-ops. In descending order of importance these factors are: the co-operative form of organisation, contact personnel, in-store specials, responsiveness, communication policy, and price comparisons. Price comparisons with the products/services offered by competing retail stores were found to have a negative impact on the members’ assessments of value. Moreover, when comparing value judgements on the basis of the variables, education and number of years the respondents had been with the co-op, the results showed that the more educated the members were, the more likely they were to give feedback to the organisation. In addition, members that had been with the co-op for one to three years were more apt to believe that management would respond to their suggestions than the respondents who had been with the co-op for more than nine years. Implications for strategies that promise to create value and influence the members’ retention decisions are discussed. [ABSTRACT FROM AUTHOR]