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Within its wider programme of store development for 2018, Co-op has revealed it is committing £28m of investment specifically within the Greater London area.  This will see the business add a record 30 new stores within the capital, as well as seven existing stores refreshed to the latest branding and standards.

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The Co-op is investing £50 million in cutting the price of grocery staples in response to "tight" competition on the high street, it has announced.

Savings aim to attract more shoppers to Co-op stores

The retailer said it was lowering the price of some products by more than 40%, with some 600 products now costing an average of 14% less.  The cuts on the prices of fruit, vegetables, bread, fresh meat and ready meals, as well as household brand names, could help shoppers save almost £120 a year.

Co-op retail chief executive Jo Whitfield said the price cuts aim to keep attracting shoppers through the door amid tight competition on the high street, and are part of a strategy to “make Co-op the UK’s number one convenience retailer”.

£160m investment in new stores in 2018

The retailer also recently announced plans to open 100 new food stores this year at a cost of £160 million which will see the number of Co-op shops reach 2,600.  Its acquisition of Nisa, with 3,200 stores, was approved by Nisa shareholders in November.

 

 

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The retailer has partnered with Deliveroo to pilot a home delivery service in Greater Manchester.

The ‘big night in’

Shoppers will be able to purchase from the convenience store via the Deliveroo website.

The trial will focus on beers, wines and spirits as well as confectionery, catering for last minute ‘big night in’ shoppers. Users of the service will also benefit from ‘party bundle deals’, including alcohol and snacks.

The trial will run across five Co-op stores in the Greater Manchester area, close to the retailer’s headquarters.

First steps into online

The tie up is the retailer’s first move into the online channel. Both the current and previous group chief executives have commented on considering the prospect of online trading.

Off the back of a 6.2% like-for-like performance in the two weeks to January 1, major UK convenience retailer, Co-op has confirmed plans to open 100 new food stores during 2018.  The new stores will be part of a £160m investment programme, that will also see it refit another 150 existing stores over the 12 months, further driving up the quality of its overall portfolio.

Locations throughout the UK

For 2018, Co-op's opening programme will see new stores added nationally, with a focus on increasing its presence in major urban centres above all.  More than 20 of the 100 new sites will be in London, while Scotland and Wales will see 20 and 18 opened respectively.  Other specific locations include: Blackpool, Bristol, Chesterfield, Crewe, Leicester, Manchester, Nottingham, Plymouth, Southampton and York.

Co-op members now helping to identify new sites

As part of its commitment to serving, and building links with, local communities Co-op is inviting individual members to help bring new stores to their preferred locations, through making suggestions on a dedicated new 'suggest-a-site' page on the Co-op website.

Stuart Hookins, Director of Portfolio and Development, Co-op commented:

"The Co-op's extensive acquisitions and refit programme is a fundamental part of our food strategy ... our expansion plans for 2018 will mean that the Co-op is on track to have opened at least 100 new stores in each of three consecutive years.  We are always looking for new locations to get us closer to where our members and customers live and work, and to meet their shopping needs conveniently."

Presentations

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