C-store chain outlines ambition to gain a million new members in five years
The Co-op is to invest more than £240m over the next five years into strengthening its membership proposition and launching new member price benefits.
The convenience store chain has outlined the ambition to grow its member base by a million over the next five years.
As part of the investment, Co-op is introducing new and lower prices which will only be available to members and could help them to save up to £300 a year. It includes exclusive discounts on fresh fruit ranges this summer, as well as the freezer, ready meal and BBQ categories. The new member prices launch in stores on 19 April.
Co-op membership already enables shoppers to earn 2p in every pound spent on own-brand products, which is returned to the member’s digital wallet.
The retailer is also spending a further £15m this May to reduce the cost of more than 60 key lines, taking the total invested into prices over the past six months to £52m.
Kenyatte Nelson, chief membership and customer officer at Co-op, said: “Our members lie at the heart of our Co-op, they trade more frequently across our business areas, they create additional value, which is returned back into communities and they have a say in how our Co-op operates. 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.”
