Co-op own brands leap 10%
The Co-operative Group has announced that sales of own brand products are up 10.1% for the year to 30 June.
Both value and premium own ranges performed well. Sales of the Co-op’s Simply Value label increased 73% year on year, thanks in part, to a relaunch in March, which saw the range extended.
Like for like sales of its top-tier, Truly Irresistible range, swelled 45% in the meat and fish category, 35% in ready meals and 33% in drinks.
The growth of The Co-op’s own label ranges reflects consumer confidence in the quality of The Co-operative brand, says managing director of The Co-operative Food business Tim Hurrell, as people choose to shop locally and dine at home rather than eat out.
Ethical and Fairtrade products also continued to grow. “Fairtrade sales are up 33.6% year-on-year thanks largely to our pioneering work on own-brand Fairtrade products, which allows our customers to continue to make an ethical choice during difficult times,” says Hurrell.
The retailer introduced own-brand Fairtrade fruit smoothie drinks, Fairtrade sparkling wine and Fairtrade Palestinian olive oil – the first Fairtrade product from Palestine during the year.
The results are The Co-ops 14th consecutive quarter of like-for-like growth.
It was reported this week that sales of own-labels accounted for 41% of all grocery shopping at the end of July, an increase from 38.1% last year.
