Co-op, the UK convenience retailer, has extended its “Member Only” pricing across nearly 200 everyday essential items and lowered its standard retail prices on more than 600 lines as part of a £70 million investment.

The supermarket, which has more than 2,400 food stores and 4.58 million active members, has lowered prices across products like its Co-op British Milk (85p), Six Co-op British Medium Free-Range Eggs (£1.40) and Co-op White Toastie Bread (76p).

The move follows the introduction of “member only offers” in April 2023, whereby Co-op members can get lower priced promotions. The initiative, which has seen nearly 40,000 new members sign up every month to take advantage of the deals, is part of the Co-op’s target to grow its member base by a million over the next five years.

The retailer claims the investment has been made possible by the cost savings and business improvements introduced over the past 12 months in the face of rising inflation and increased operational costs.

Matt Hood, managing director for Co-op Food, said: “Whilst food inflation is starting to slow, household budgets remain under huge pressure, so this major price investment will make a real and tangible difference for millions of Co-op customers and members.  This £70 million investment is the most significant ever made by a convenience retailer, allowing us to turbo charge our member pricing proposition for the millions of our members who shop with us every day, by tailoring the price cuts to those key lines we know our members buy the most.”