The Co-op has made its biggest ever single investment as it extends its member-only prices across everyday essentials.

The £70m investment sees the convenience retailer expand its member price benefits to provide new, lower member-only prices on 200 fixed lines of everyday products that are most purchased by shoppers.

Co-op insight showed that customers think there is more benefit from lower prices on items they buy regularly rather than loyalty pricing on products that change every few weeks. 

Members can save up to 11% on retail prices, with the Co-op’s one pint of milk costing 85p, own-brand free range eggs priced at £1.40 and a Co-op sliced loaf costing 76p.

The multimillion-pound investment also includes a retail price reduction on over 600 lines, ensuring they are the same price or cheaper than at other national convenience stores. The total amount invested into Co-op prices this year is now £90m. 

Co-op food managing director Matt Hood said: “While food inflation is starting to slow, household budgets remain under huge pressure, so this major price investment will make a real and tangible difference for millions of Co-op customers and members.  

“This £70m investment is the most significant ever made by a convenience retailer, allowing us to turbocharge our member pricing proposition for the millions of our members who shop with us every day, by tailoring the price cuts to those key lines we know they buy the most. 

“We are focused on delivering member value in a way that will make the biggest difference to their weekly budgets, and I’m clear there should be no compromise on quality and value by shopping in convenience. 

“This is not a loyalty scheme but rather the Co-op difference in action, whereby the people who own our business, our members, benefit every time they shop.”    

 The move follows the introduction of “member only offers” in April, which has seen nearly 40,000 new members sign up every month.