Co-op members will no longer earn rewards from buying products and services from next week, as the retailer revamps its membership offer.
Under the new changes, the society will instead channel all its loyalty benefits into Member Prices across its food, insurance, funeralcare and legal services businesses.
The society said it was making the changes in response to feedback from members on what they wanted most during the current cost of living crisis. From 24 January, Co-op members will stop receiving 2p for every £1 they spend on own-brand products.
Co-op will also no longer give 2p from each £1 spent on one brand to help fund local community causes across the UK. However, in an email to members this week, it insisted “we’ll continue to do this through our Community Partnership Fund, and a dedicated £4m in funding to support existing Local Community Fund causes”.
Under the new plan, the retailer said it would offer a significantly increased number of Member Prices and deals in all business areas. There will be reductions on both branded and own-brand food for the first time, and members will have the choice of two personalised offers every week.
A Co-op spokeswoman also flagged up that Member Pricing was financially much more rewarding than the rewards available via the previous mechanism. Members would also have more opportunities to participate in community activities and be able to choose a local cause to receive funding, as well as have a say in how the Co-op is run.
“We know times are tough for our member owners and communities right now, which is why we’ve listened and are making some changes to give more value back to them whilst still supporting local communities,” said a Co-op spokeswoman.
The Co-op relaunched its membership proposition last April, including the introduction of Member Prices. At the time it had 4.41 million active users. It later said the new model had helped drive recruitment to more than five million active members by November.
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