Britain's Co-operative Group plans to invest more than £240 million (€272.64 million) to strengthen its membership proposition across the next five years.
The UK-based convenience food retailer and funeral-care provider plans to introduce new and lower price offerings, which will only be available to Co-op members and could help them to save up to £300 a year.
Members will benefit from extra money off its popular freezer filler deal – average member saving of £8 per deal – to further discounts, such as £1.45 savings on its Irresistible pizzas, savings of £1.90 on ready meals, wine deals to help save £5, and money off Co-op’s British BBQ lines and fresh fruit ranges.
'A Better Way Of Doing Business'
Kenyatte Nelson, chief membership and customer officer at Co-op, said, “For us to champion a better way of doing business, we are aiming to grow our membership base by one million over the next five years and will accompany this ambition with a compelling member-benefits programme, which will span our entire Co-op.
“Our initial member-investment will be targeted within our food business and directly supports our pure convenience strategy. Currently around 16 million shoppers visit our stores each week or trade online with us. Our ambition is that many will convert to being Co-op members, when they see the clear value this can bring to both themselves and their wider communities.”
Co-op is also investing an additional £15 million this May – taking the total investment in prices over the past six months to £52 million – to reduce the cost of more than 60 key lines in stores to help consumers navigate the cost-of-living crisis.
Products included in this campaign include everyday essentials, such as fresh chicken breasts, bread and milk.
The average reduction is 13%, with the maximum reduction at 33%.
© 2023 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
