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Co-op triples member deals for remainder of 2024

Co-op triples member deals for remainder of 2024

On this episode of Talking Shop, we are joined by Nikki Baird, Vice President of Strategy and Product at Aptos. Nikki has spent decades separating technology hype from real-world consumer behavior. Today, we delve into the emergence of the "dark funnel" and how LLMs like ChatGPT are disrupting traditional retail search pipelines, breaking retail media networks, and forcing retailers to their re-evaluate product landing page.

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Co-op has announced it has tripled its member deals, launching more than 100 new offers every month until the end of the year. The member deal offers, which launched in April, will reach 5.5 million customers, according to the group. 

The move marks a 252% increase on the number of member deals across its 2,400 stores. The deals facilitate savings on cupboard, fridge and freezer fillers, as well as big brand items, with deals changing every three weeks.

Adele Balmforth, propositions director at Co-op, said: “Offering great value to our shoppers as a convenience retailer is a priority for us and we’re thrilled to be supercharging our member deals for the rest of the year, with even more market-leading offers to be found across our 2,400 stores alongside those much-loved promotional favourites.”

Last year, Co-op announced its biggest ever single investment in pricing of £70m, as it extended its member-only pricing across everyday essentials, which launched with a list of nearly 200 fixed lines including milk, eggs and bread. 

It followed Co-op research which revealed that shoppers think there is more benefit from lower prices on the items they buy the most rather than loyalty pricing on an array of products which change every few weeks. 

The £70m investment also included a retail price reduction on more than 600 products, “ensuring they are in line or cheaper than other national convenience stores”, and taking the total invested into Co-op prices this year to £90m overall.

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