Co-op’s own-brand bread sales double after relaunch
The Co-operative Food has revealed that sales of its own-brand bread have doubled in the first four weeks following a re-launch as it looks to revamp over 3,800 own-brand lines by the end of this year.
The retailer is now halfway through the own-brand re-launch programme with 1,750 lines introduced so far in 2014.
The Co-operative’s bread range forms part of a “halo” set of own-brand lines including pies, sandwiches, pizzas and ready meals that have been re-launched under the “Loved by Us” banner. All are now seeing double digit like-for-like sales growth.
Steve Murrells, chief executive for retail, said: “The Co-operative was historically known for the quality of its own brand produce, and as part our food strategy we are dramatically improving our own brand offer once more. We offer the best value loaf in Britain in terms of price and quality and the sales we have seen show customers are right behind us.”
Never Miss a Retail Update!To further its ambition to become the UK’s leading community retailer, The Co-operative has reduced prices on thousands of products as part of a £100 million price investment. In addition, almost 1,000 stores will undergo major refits this year and the business is looking to increase in its convenience portfolio by a net 100 stores by the end of the year.
Murrells added: “The steps we are taking are focused on delivering for our customers and giving them what they want – quality products at great prices in a convenient location. We still have much to do but the customer reaction gives us a great deal of confidence.”
