FOOD FOR THOUGHT
Co-op reveals £50m investment to ease the pressure on grocery bills
THE CO-OP has announced a £50m “price investment” to cut the cost of everyday food as it gears up to open 100 new food stores this year.
The Co-op said that some of its products have been lowered in price by more than 40 per cent,
A spokesman said: “Co-op fruit, vegetables, bread, fresh meat and ready meals, as well as household brand names have been trimmed, helping shoppers save almost £120 a year on their food bills.”
More than 50 varieties of fruit, vegetables and salad items are cheaper, the Co-op said.
Fairtrade bananas are down by 16p to 79p, and a whole cucumber has been chopped down 18 per cent in price to 45p.
Jo Whitfield, Co-op retail chief executive, 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 month, the Coop announced that it plans to open 100 new food stores in 2018, creating about 1,600 jobs.
The retailer will invest more than £160m in the venture, as well as giving “major makeovers” to a further 150 outlets.