The Co-op has revamped its membership scheme by overhauling customer rewards on purchases and doubling the funds going to community groups.
The new scheme, which was rolled out by the convenience store group last week, sees the original 5p earned for every £1 spent lowered to 2p for customers.
However, while customers will earn less on purchases, the Co-op said the new scheme will offer more personalised offers – allowing members to choose two tailored offers a week, as well as exclusive in-store-only discounts.
The Co-op said that “top spending customers” could actually expect to save “almost 150% more” through the new membership proposition.
By dropping the rewards for customers, the Co-op has been able to double the amount of money going towards community causes.
Co-op staff benefits have also been increased, with the retailer’s colleagues now able to get 20% discounts on own-brand products and 10% off branded food products.
New savings have also been rolled out across the Co-op’s other suite of products such as funerals, insurance policies and legal services.
The retailer’s chief membership officer Matt Atkinson said: “The Co-op was founded to share the value we create with our members and with their communities. Refreshing our membership offer will allow us to do both of these things in a much bigger way.
“Since 2016 the community reward has generated £70m of community investment, and now we are doubling the amount. With our members’ help we can do something very significant for our local communities, while also giving bespoke, personalised value to our members with offers designed to better meet their needs.”
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