The Co-op is aiming to grow its number of members from 5m to 8m by 2030.
It comes as data shows that Co-op’s membership is growing ahead of its expectations, with its current members up almost 15% on the previous year, according to the retailer.
The convenience giant also saw a 21% uptick in members shopping with Co-op in December.
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Co-op’s food business is now targeting a larger share of the convenience market via omnichannel growth, with plans to acquire new stores, more than double its number of new franchise stores, open 400 Nisa stores, and accelerate share in the quick commerce market to over 30%.
The news comes as the grocer has launched 117 new Member Prices, which include branded goods for the first time.
Co-op CEO Shirine Khoury-Haq said: “Over the past year our underlying financial strength has enabled us to support our colleagues and their communities, through the cost-of-living crisis.
“By placing our member-owners firmly at the heart of our Co-op, we’ve seen a marked increase in new members joining us and greater engagement from existing members.”
Last week, the retailer announced plans to discontinue its 2p for every £1 spent rewards scheme and replace it with a “significantly increased” range of member-exclusive prices and deals throughout the business.
