Co-op latest retailer to slash prices in salvo against discounters
Manchester-headquartered retailer Co-op is to launch an aggressive value campaign tomorrow (Wednesday 26 March), matching Aldi prices on over 100 everyday essentials for its members including fresh fruit, milk, eggs and bread.
Described by the Co-op as a “significant move, the largest of its kind in convenience stores” and it also means Co-op members will save money every time they shop.
The move, a first for Co-op, will see its six-million “Member Owners” as it calls members, will be able to access new lower prices, matched to Aldi, on the retailer’s most shopped convenience lines.
The Co-op’s ambition is to get to eight million members, by offering discounts and other benefits it says are linked to “co-operative principles”.
Matt Hood, Managing Director for Co-op, said: “I am very clear that, in this current economic climate, price is most often the deciding food shopping factor for our members and customers. Which is why we are taking this big step to price match, in our stores and online, as we know discounter prices are often the benchmark of value for consumers, and we are facing directly into that. I truly believe we run the best small stores in the UK, loved by our members, customers, and communities, where we offer local and convenience shopping with great value and high quality, carefully sourced products. Price has often been perceived as the Achilles heel of convenience shopping, but this new, long-term initiative will change that and show there is no compromise in value, quality, or range to shopping conveniently.”
Allan Leighton’s return to Asda as chairman has also seen the large supermarket pledging to target the German discounters Aldi and Lidl with price cuts.
In September 2024 the Co-op Group posted strong first half results, including a return to interim profit.
The Manchester-based group revealed that turnover rose from £5.5bn to £5.6bn, and a pre-tax loss of £33m in the six month period last year was transformed into a £58m pre-tax profit this year, helped by lower interest payments.
