As part of its effort to improve market share in a field of business that remains highly competitive, the Co-op has injected £125 million into fresh-produce price reductions.
It will begin with cucumbers, lettuce, and 500-gramme bags of carrots, which are on sale at £0.39 each, TheGuardian reports.
The grocer is concentrating its efforts on convenience retailing (it sold 37 of its larger-scale stores during the year up to 3 January). It plans to have created another 100 convenience outlets by the end of this year, as well as to have revamped 225 stores.
Steve Murrells, its CEO, said, “Consumers are shopping differently, buying little, more frequently, and increasingly swapping the weekly shop for purchasing what they need, when they need it.
“Food retailing remains highly competitive, and we have responded to provide customers with great prices and fresh, quality produce at each of our stores. This makes our price investment the biggest by a convenience retailer, providing consumers across the length and breadth of the UK with lower-priced produce and helping them to keep shopping in their neighbourhood.”
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly.
