Following the introduction of our new Meaningful Membership offer, we’ve decided that our colleague Double Discount event in Co-op Food and Co-op Electrical on 20 and 21 January will be our last one.
I know for many of you, this will come as a disappointment, and it is not a decision we’ve taken lightly. Let me explain the reasons why.
Pay Day Double Discount hasn’t been around for very long. We only introduced it three years ago to compensate colleagues for the fact that we weren’t in a position to reward our members following our financial crisis in 2013.
Since last June when we introduced our new Co-op Membership rewards for colleagues, we’ve all been getting 5% back when we buy Co-op branded goods as well as the 10% colleague member discount on everything we buy from Co-op Food.
So every time you buy a basket of Co-op milk, Co-op bread, Co-op eggs, Co-op bacon or anything that carries our brand, you’re getting c.15% off the price. That’s every day, not just when you get paid.
Your savings on a mid-week top up shop
Your savings on a small mid-week top up shop soon add up. I’m sure you’ve all seen the way in which the savings are shown on the bottom of your receipt, and some of you will have already benefited by spending what you’ve saved. This is a real saving every day.
By spending just £10 a week in our stores on Co-op own brand products, you save £1.00 through your 10% and a further 45p through the 5% membership reward adding up to over £75 per year.
Of course the more you spend on Co-op branded products the more you’ll save.
I hope this helps you understand the reasons why we’ve taken this decision.
Exclusive colleague offers every week
We do however still want all our colleagues to feel valued and rewarded for being part of the Co-op so we’re also looking at new ways to give colleagues additional benefits from our family of businesses. We’ll have more to tell you on this in a few weeks.
We know how important saving money is to you and your family and you may not realise just how much you could be saving with discounts we’ve negotiated on your behalf with non-Co-op suppliers.
There are hundreds of pounds worth of offers and discounts for our colleagues – from cinema tickets to childcare vouchers and high street fashion brands – that are yours for the taking. But at the moment very few of you are taking advantage of these savings.
Take a look at this short film to find out how you can start saving now with the Co-op and other brands.
Just for example, looking beyond our Co-op businesses, a family of four going to the cinema and buying drinks and popcorn could save £24 on the total cost by using the voucher codes on the benefits site.
Add that to the weekly savings on our Co-op top up shop and you could be saving £25.45 every week because you’re a Co-op colleague member.
Go to www.coop.co.uk/benefits and register to see what’s there and receive weekly updates on the latest exclusive deals.
Look out for more announcements soon on colleague member benefits. And make sure you’re taking advantage of all that’s on offer including next week’s final Double Discount.
Chief Executive of Co-op Food