Co-op is scrapping its current loyalty scheme for customers as part of a big shake-up.
Members received an email earlier today which told them they would no longer be rewarded 2p for every £1 they spend on the retailer’s own-brand goods.
The email read: “By making changes to our membership benefits, we’re giving you more immediate value back. From 24 January, you’ll no longer earn rewards for purchasing Co-op products and services.
“Instead, as a valued member, you’ll always save more with exclusive Member Prices across Food, Insurance, Funeralcare and Legal Services, giving you savings on the things you need.”
Customers are outraged by the changes to the loyalty scheme
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Members only pricing were already introduced by the supermarket chain in April 2023 as part of a £240million investment. According to the Co-op, members could save up to £300 through the pricing initiative
Anyone who has money in the existing scheme will have to wait until the end of the year to spend what they have earned.
As it stands, Co-op membership costs £1 per customer and members get personalised offers weekly based on their purchases.
Any money accumulated is stored in the member’s digital wallet with a digital balance being added depending on their spending.
If someone were to spend £20 on Co-op own brand products, they will get 40p back on their membership to spend in-store.
However, this version of the loyalty scheme will be replaced by January 24.
On social media, Co-op customers reacted angrily to the news that the existing loyalty scheme is being scrapped.
One X, formerly Twitter, user wrote: “Just read about the membership card changes @coopuk.
Customers will no longer earn 2p for every £1 they spend on home-brand goods
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“Claiming to have listened to customers by taking away a huge benefit to shopping with Co-op on short notice to replace it with something they’re already doing? Profit before people again. Rubbish.”
Another added: “As members own the business, don’t you think you should run changes to the membership scheme (which costs to join) past the members first? Bad move Co-op.”
In a statement, Co-op said: “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.
“From January 24, instead of earning rewards on the purchase of Co-op branded food purchases, members will now benefit from a significantly increased number of member prices and deals in all our businesses.”
GB News has contacted Co-op asking for comment.
Robert Johnson is a UK-based business writer specializing in finance and entrepreneurship. With an eye for market trends and a keen interest in the corporate world, he offers readers valuable insights into business developments.
