A multi-million-pound investment in Co-op own brand has been announced at Nisa’s annual trade show today.
The significant investment will include over 1,000 price reductions that will be live to Nisa retailers from next week with the top 100 most frequently purchased products all set to fall in price. Co-op Fairtrade bananas, free range eggs, ice cubes, carrots, bacon and pasta twists are included in the list.
Nisa’s newly appointed managing director, Peter Batt, said: “Co-op own brand is absolutely key to our offer for independent retailers, more so than ever before as shoppers struggle with the increasing cost of living.
“This investment in the price of more than 1,000 Co-op own label products will support our retailers, ensuring they stay competitive, helping them to drive sales and margin during ever challenging times.”
Speaking to Convenience Store ahead of the Expo, Batt said this move was part of an “evolution rather than a revolution” for Nisa. “We’ve been looking very closely at our range to find out what’s important to our partners, and this change is a big part of that.”
Trading director Ayaz Alam explained the need for this price investment. ”The structure of pricing has been knocked out of shape over the past few years and we want to bring that structure back for our retailer partners. More than 1,000 price reductions will be going out next week at a time when everything is going up.”
The prices will be audited every month as part of the investment.
Alongside the price investment, Nisa is further supporting retailers with the introduction of the core essentials range aimed at all stores across the UK. Unveiled at the Nisa Expo, the 330 Co-op own brand lines form a collection of products recommended to all retailers to enable them to stock a comprehensive own brand offer in store for their customers. Based on sales insights and data, the range comprises products across all categories in Co-op own brand that deliver on the core convenience missions and offer quality and value for shoppers as well as good margins for independent retailers.
The Core Essentials package incorporates Co-op’s standard tier own-brand lines along with three top-selling and award-winning SKUs from the Co-op’s premium own brand tier, Irresistible: Co-op Irresistible Prosecco, Hand cooked Sea Salt and Chardonnay Wine Vinegar Crisps and Wood Fired Margherita Pizza.
Jonny Lambert, Co-op brand planning and communications manager, said: “The intention of the Core Essentials range is to provide independent retailers with a comprehensive list of recommended products they should consider stocking to ensure they have a strong, basic own brand offer for their shoppers.
“The Core Essentials collection is made up of up key convenience lines that we believe are most important in the customer offer.”
In addition to the recommended Core Essentials range are two bolt-on packages, one focusing on value comprising 52 lines from the Co-op Honest Value range and the other on premium with 70 Irresistible products included.
The add-ons will help retailers cater for the right demographic of each store enabling them to enhance both ends of the budget with supplementary products.
The Core Essentials range is being highlighted at the Nisa Expo this week with opportunities for sampling and sharing of insights and merchandising ideas.
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