Co-op goes to Glastonbury with a pop-up store in a bid to target younger customers
The Co-op is targeting younger customers by opening shops on festival sites and university campuses as it looks to build on its best performance in seven years.
The convenience store chain will open a pop-up store at Glastonbury Festival after it secured a five-year contract to sell essentials such as water, sandwiches, sun cream and rain ponchos to 175,000 visitors.
The Co-op will have shops at eight festivals this year including The Isle of Wight Festival, Creamfields in Cheshire, Reading and Leeds.
Co-op will open a pop-up store at Glastonbury Festival after it secured a five-year contract to sell essentials such as water, sandwiches, sun cream and rain ponchos to 175,000 visitors
It has also set up sites on university campuses allowing students to buy their weekly shop within walking distance of their accommodation.
Steve Murrells, chief executive of the Co-op, said: ‘Last year we reached 200,000 younger customers through our pop-up stores at four festivals and we’ll do even more this year, including the legendary Glastonbury – a first for any international food retailer.’
Tesco’s festive lift
Tesco is set to reveal a 22 per cent jump in full-year profits next week following bumper Christmas sales.
Britain’s largest supermarket is expected to have raked in £1.6billion just months after it announced that as many as 9,000 jobs could be axed in a major cost-cutting drive.
Total sales, including at wholesaler Booker which Tesco bought for £3.7billion in 2017, are tipped to surge 12 per cent to £64.5billion.
It was boosted by a strong festive performance which saw it post the highest Christmas sales growth in almost a decade.
Tesco shares climbed 0.3 per cent, or 0.7p, to 236.9p.
The 53-year-old said young people ‘absolutely love the Co-op model’, adding: ‘They’re very sceptical about big business. They get the Co-op and they like what we do.’
The Co-op posted a 4.4 per cent rise in same-store sales at its food business in the year to January 5. Profits at the group were flat at £43million.
The company has also been boosted by its purchase of convenience store chain Nisa.
It has embarked on a major expansion plan which saw it open 102 stores last year, taking its total to 2,582.
The success of its food business has helped prop up the Co-op as its other divisions struggle. Its funeral arm saw a 1 per cent decline in sales amid a price war with competitors.
Murrells said: ‘Food has been a real stand-out for us. We are focused on being the best convenience retailer we can be.’