The Co-op has on Wednesday announced its growth plans, with its Food business targeting an even greater share of the UK convenience market through omni channel growth.
Ambitions for 2024 include: acquiring new Co-op stores, opening 400 new Nisa stores, more than doubling the number of new franchise stores, and accelerating share in the quick commerce market to over 30 per cent.
The UK’s largest consumer co-operative also looks to substantially increase the number of members-owners from 5 million to 8 million by 2030.
The retailer also announced a significant new round of member prices within the Food business. This sees a further 117 everyday low prices, which for the first time will also include branded goods.
This follows the biggest ever investment in convenience pricing last year, where member prices were introduced on 175 everyday essential products and takes total investment to £100 million.
“As we enter our 180th year, we now have a unique opportunity to make this a golden era of co-operation,” Shirine Khoury-Haq, Co-op chief executive, commented.
“We are looking to not only provide greater financial benefits to our members through lower prices and offers across our businesses, but also to deepen our engagement with members on the decisions we take and the issues that matter most to them.”
