The Co-op has announced a major wave of price reductions, pledging to slash the cost of 1,000 products in its stores over the coming year. This decisive action comes directly after the government's Autumn Budget statement, as the grocer seeks to provide relief to shoppers during the ongoing cost-of-living crisis.
A Billion-Pound Boost for the UK
This price-cutting initiative is part of a much larger £1 billion investment into the UK economy planned by the Co-op over the next 12 months. The investment is designed to support customers across its 2,300+ British stores and strengthen the wider community. A significant portion of this funding, over £700 million per year, will be dedicated to supporting British farmers and agriculture suppliers.
This commitment ensures that 100% of the fresh and frozen meat sold under Co-op's own-label ranges will continue to be sourced from Britain.
Leadership Responds to Budget and Community Concerns
Shirine Khoury-Haq, Co-op Group CEO, stated that the Autumn Budget provided the clarity local shops and communities needed. She welcomed the government's decision on business rates, calling it a crucial step to protect jobs and strengthen local high streets.
"Co-op is stepping up alongside this commitment, facilitating over £1 billion of spending into the UK economy over the next year," Khoury-Haq said. She confirmed this includes the retailer's largest-ever number of price reductions to help with the cost of living, alongside continued investment in British suppliers.
Store Expansion and Business Rates Reform
Beyond lower prices, Co-op is demonstrating its commitment to the high street with a significant expansion plan. The company will invest in 100 stores over the next 12 months through openings, renovations, and relocations. In a powerful statement of intent, the grocer announced it is opening 11 new stores this week alone.
The company has also publicly welcomed Chancellor Rachel Reeves' business rates reforms, which are seen as vital for the survival and growth of small businesses across the country. This combination of price cuts, investment in British supply chains, and physical store growth marks a comprehensive strategy by Co-op to support the UK economy and its customers.
