Co-op has announced plans to treble its existing franchise stores within three years, making it the biggest convenience retailer in the UK.
Last week, the firm published its new-look food strategy with a renewed focused on convenience, and detailing the biggest shake-up in its near-180-year history.
CEO Shirine Khoury-Haq said: “Convenience is one of the fastest-growing channels within the grocery market and our refreshed strategy aims to capitalise on the experience we’ve gained in the market over the past decade.
“We’ve grown our own business to operate more than 2,500 Co-opoperated stores, have built a nationwide franchise platform and serve almost 5,000 independent convenience stores through our wholesale arm.”
Alongside trebling franchise stores, the community retailer also intends to grow its ecommerce business by building on its tie-ups with Deliveroo, Uber Eats and Amazon.
It outlined lowering prices in response to the cost-of-living crisis would be the first phase of its strategy. More than 120 Co-op own-brand products have been cut in price by as much as 36%, with savings on average over 13%.
Khoury-Haq added: “As we face a cost-of-living crisis, we are determined to make life fairer for our members, customers and communities in these extraordinary times.”
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