Nisa’s £5m investment into improving costs across more than 1,000 Co-op own-label lines has resulted in a 8% average drop across wholesale pricing (WSP).
Newly released pricing seen by Better Retailing following the investment listed 1,014 lines which had a reduction in WSP and RRP. Prior to the changes going live on 3 October, the average wholesale price across all of the lines was £13.51, compared to an average of £12.44 as a result of the investment.
When Nisa revealed the £5m change at its annual expo on 27 September, it pledged it would shorten the disparity between Nisa and Co-op RRPs. In the data, Nisa RRP for Co-op Rhubarb Crumble was £2.45, compared to £2.35 in Co-op. Nisa RRP for Co-op Cola was 75p, compared to 70p in the multiple’s own stores. Chilean Merlot had an RRP of £15.80, while Co-op stores had an RRP of £15.10.
Alongside the reductions, 870 Co-op lines also saw a rise in their pricing. Average wholesale pricing rose from £13.84 to £14.80 across all products, representing a 7% increase.
The investment had faced criticism from Nisa retailers, who said it was not enough. One store owner, who asked not to be named, said: “There’s been a huge negative reaction from every retailer I’ve spoken to. They’ve got it spectacularly wrong. I don’t think a consumer would notice a 15p difference in pricing.”
A Nisa spokesperson said: “At a time when prices are going up everywhere, we are investing in Co-op own brand and bringing prices down for our retailers.”
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