The Co-operative is boosting bakery sales by offering money-off vouchers through its ATM cash machines a strategy that could soon be adopted by other retailers.
Customers using any of The Co-operative Bank’s cash machines located in Co-operative food stores receive a voucher on the back of their receipt with 40p off The Co-operative Truly Irresistible Chocolate Cake. The trial will run until 12 December across The Co-op’s network of ATMs in the UK including 1,600 in Co-op food stores.
Helen Bridgett, head of strategy, insight and planning at The Co-operative Food, said: "With more than 70% of The Co-operative Bank’s cash machines located in our food stores, this marketing trial provides an excellent opportunity to encourage people to shop with us after withdrawing cash."
Max Jenvey, managing director of Oxxygen Marketing Partnership, told British Baker: "All the major supermarkets have cash machines in and around their stores and it’s a cost-effective promotional tool," he said. "Bakery products are often bought on impulse and are less margin-sensitive than other products, which means retailers can give a worthwhile discount."