The Co-op is set to invest in pricing and customer-facing technology, as boss Steve Murrells pledges to keep the core food business relevant to more price-conscious consumers.
With the UK currently in its deepest recession in living memory due to the effects of the coronavirus, and the big four supermarkets all investing in price to woo consumers away from the discounters, the Co-op too has vowed investment in that area.
The convenience store specialist’s chief financial officer Shirine Khoury-Haq said the Co-op had been monitoring the moves of its competitors and promised it too would take action in the second half of the year.
“Clearly we’re watching with price across the market and we will be investing in price, as other retailers will and we will continue to monitor that coming towards the end of the year and into the next,” she said.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.