The Co-op Group has announced a £50m investment to cut the cost of everyday food, with some products have been reduced in price by more than 40%.
On average, more than 600 products now cost 14% less. Co-op Fruit, vegetables, bread, fresh meat and ready meals, as well as household brand names have been trimmed.
The Group says the reductions mean shoppers could almost £120 a year on their food bills.
Retail chief executive Jo Whitfield said: “Many shoppers feel the pinch after Christmas and we are committed to offering our customers value for money and cutting prices to make household budgets go further.
“We are the most visited food retailer on the high street but competition is tight and we want to keep attracting shoppers through the door. Big discounts across fresh food makes it easier for customers to shop healthier as well as fill their cupboards and these price cuts are part of our strategy to make Co-op the UK’s number one convenience retailer.”
She added: “We have the ambition for our stores to be at the heart of local life, bringing communities together and offering our members and customers great quality products when and where they need them.”
Earlier this year, the Group announced plans to open 100 new food stores in 2018.
And in another initiative, it is trialling a delivery service in partnership with Deliveroo, part of its exploration of new ways to reach customers.
A spokesperson for the Group said: “This small trial will focus on beers, wines and spirits as well as snacks and confectionary and will be limited to the Greater Manchester area.”
The trial is taking place at five stores: Corporation Street (Manchester city centre), Vimto Gardens (Salford), Wilbraham Road (Chorlton), Heald Green (Cheadle) and West Didsbury (Didsbury).
Another announcement sees Costcutter confirm that it will replace its independent own-brand range with the Co-op’s own-label products
This follow’s the deal signed last November, which made the Group become the exclusive wholesale supplier to Costcutter, starting in spring.
