The Co-op supermarket is following the lead set by Tesco and Sainsbury’s by introducing cheaper prices for members of its loyalty programme.
The retailer, which has more than 60 stores in the North East, is the latest to offer two-tier pricing, with reductions for holders of its Co-Op Membership scheme not available to those who do not join up. Its move comes just days after the UK's second-biggest supermarket, Sainsbury's refreshed its Nectar Prices scheme last week to bring it in line with Tesco's Clubcard scheme.
The Co-op is the seventh-biggest food retailer in the UK, with 6.5% of market share. However, it is claiming the new scheme could save shoppers as much as £300 per year, as the battle for supermarket loyalty card sign-ups intensifies and discounters Aldi and Lidl boost their reward schemes and gain more market share.
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However, it is thought that that just 15 items will be included in the new member prices, compared to the hundreds included in Nectar and Clubcard deals. The Co-Op said the items are to be rotated every three weeks. It also announced plans to invest a further £15m in May to keep prices as low as possible for customers during the cost of living crisis, reducing the cost of more than 60 key lines in stores.
The Co-Op will follow Tesco's lead to offer members lower prices for lunchtime meal deals – £3.50 instead of the £4 non-members pay. Sainsbury's opted to keep their meal deal price the same for everyone.
Kenyatte Nelson, chief membership and customer officer at Co-op, said: “Our message is simple, Co-op members save more. The new push for member prices ensures that we’re rewarding the loyalty of shoppers with the most competitive prices on the best offers we have in our stores, alongside weekly personalised offers, exclusive games to win additional discounts and prizes, plus the benefit of money back via on own brand purchases, all while supporting local causes with funds raised via members’ spending in store.”
The Co-Op's popular freezer deal, which contains five frozen items for £6, will be included in the Co-Op Membership scheme, costing members £5. Currently the deal includes Birds Eye Crispy Fish Fingers, Birds Eye Battered Extra Large Fish Fillets, Birds Eye Garden Peas, McCain Oven Chips, Solero Exotic Ice Cream, so is a great deal even without the Membership Prices. The same five items would cost £13.55 at Tesco.
Co-op Membership is free to sign up to. Shoppers get 2p back from every £1 spent on own-brand products as a member, plus personalised offers in the Co-op Membership app.
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