Co-op offers members discount on shopping after cyber attack
Retailer Co-op is to offer its members £10 off a minimum shop of £40 following disruption caused by a recent cyber attack.The grocery chain said it had not yet completely recovered from being targeted by hackers last month, which resulted in a significant amount of customer data being stolen.Although the offer appears generous, one analysts said the majority of customers do not spend £40 or more per shop, so it would not appeal to many people.The one-off deal, which runs from Wednesday for a week, is open to existing Co-op members, and a shoppers wanting to sign up, but not to staff.
A Co-op source said since stock levels had returned to normal over the past few weeks, there had been a strong pick-up in sales.The offer was to show that the Co-op was "on the front foot" ahead of summer trading, the source told the BBC.But retail consultant Catherine Shuttleworth said the offer indicated that members may have started to shop elsewhere and was an effort from Co-op to try to get them back.Co-op said if members spend £40 or more in store, they will get £10 off their shop.
Easy to redeem?
"You'd be pushed to spend that in a Co-op - the average shop would be between £10 and £15. It's a very high threshold for a convenience business," added Ms Shuttleworth.She said the chain was trying to show commitment to its frequent shoppers, but suggested the business was "not going to be huge redemptions on that offer".Ms Shuttleworth said members would probably appreciate practical help on securing their data more.In some rural areas such as Skye in Scotland, the Co-op is the main shop - albeit with a choice of other smaller retailers.But the majority of Co-op stores are in urban areas with more competition.
'Near to full recovery'
The retailer said it was "very near to making a full and complete recovery" from the recent cyber attack and added its 2,300 stores were returning to usual trading.During the attack, which came to light in May, hackers got into Co-op's technology networks and stole past and present member data.The retailer shut down its systems to restrict the damage, and managed to continue to trade, but there is still some behind-the-scenes disruption, the source said.Customers complained of empty shelves as the incident disrupted deliveries of fresh stock.Co-op said its offer was a "gesture of appreciation" to its 6.5 million members.The BBC understands that Co-op is not planning to offer any fraud prevention or identity monitoring.Ms Shuttleworth estimated that the cyber-attack would have cost Co-op "millions of pounds" in lost sales.She said the offer was "a call to customers to come back", and for Co-op to show that it was open for business."If you can't manage to get what you want, you go elsewhere," she added.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
31 minutes ago
- The Sun
Family-run business holding ‘everything must go' sale as Labour's tax hikes force the closure of its last shop
A FAMILY-run retail business is closing its last store in a few days, offering great bargains before it shuts. The Cotswolds Sewing Centres, a family-run business, is closing its last store in Witney next week, offering big discounts in a "everything must go" sale. 1 The business, which has been a local favourite since 2021, says rising taxes under the Labour government have made it impossible to continue. This closure follows the shutdown of its sister store in Banbury earlier this year, ending over 40 years of serving the high street. Amy Brennan, who took over the business after her mother passed away in 2020, previously stated that the Witney shop and online store would stay open after closing the Banbury branch. However, she has now announced that both will be closing as well. In a notice sent to customers she said: "With a heavy heart I'm announcing the closing of Cotswold Sewing Centres. "Our Witney store and website will close in June 2025. "Unfortunately the April increases for businesses has forced this decision. "Thank you for all the support over the years." The Witney store will close for the final time on Tuesday, June 24. Until then, shoppers can grab bargains both in-store and online as the owners work to clear out their remaining stock. Britain's retail apocalypse: why your favourite stores KEEP closing down According to recent posts on the retailer's Facebook page, shoppers can get 30% off all fabric, 20% off yarn and 10% off drops yarn. Items in the haberdashery are discounted by 10%, and knitting and crochet patterns are available for just £3. In response to the post shoppers have shared their sadness about the closure. One person said: "This is just awful. Witney High Street is dying because of the high rents and rates. "I will be very sorry to see this particular shop go, as a dressmaker it's been a life-saver on many occasions." Another said: "That's a crying shame! "Where do all of us who enjoy being creative with knitting or sewing go now?" A third shopper said: "I'm so sad to hear the news. "This shop has always been such a special place for me - not just for finding beautiful fabrics and materials, but for the calm and welcoming atmosphere." RETAIL PAIN IN 2025 The British Retail Consortium predicted that the Treasury's hike to employer NICs will cost the retail sector £2.3billion. Research by the British Chambers of Commerce showed that more than half of companies planned to raise prices by early April. A survey of more than 4,800 firms also found that 55% expect prices to increase in the next three months, up from 39% in a similar poll conducted in the latter half of 2024. Three-quarters of companies cited the cost of employing people as their primary financial pressure. The Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year. It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year. Professor Joshua Bamfield, director of the CRR said: "The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025." Professor Bamfield has also warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector. "By increasing both the costs of running stores and the costs on each consumer's household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020. Why is the retail sector struggling? The retail sector has struggled in recent years due to the onset of online shopping and lockdowns during the coronavirus pandemic. Just this week, the owners of Poundland confirmed they would shut 68 stores in a major shake-up, with 82 more at risk. Both Hobbycraft and The Original Factory Shop are also shutting branches as part of restructuring efforts. Higher inflation since 2022 has also hit shoppers' budgets while businesses have struggled with higher wage, tax and energy costs. The Centre for Retail Research has described the sector as going through a "permacrisis" since the 2008 financial crash. Figures from the Centre also show 34 retail companies operating multiple stores stopped trading in 2024, leading to the closure of 7,537 shops.
Times
38 minutes ago
- Times
The Chinese are opening London's priciest hotel – with a US twist
Donald Trump presents himself as the great dealmaker, a man who gets the best properties at the best locations for the best price, especially when it comes to opening hotels, like his Washington hotel. Radha Arora is about to put one over on him — in his own embassy. 'This is the best hotel, with the best address, in the No 1 city on the planet,' the president of Rosewood Hotels & Resorts said last week as he walked into the former US embassy on Grosvenor Square in London's Mayfair — soon to be the Chancery Rosewood hotel. The hotel, which will open in August, is the most expensive to be built in London: the £1 billion budget works out at £7 million for each of the 144 suites, which come with butler service. The 'cheapest' suite is £1,500 a night, and the two penthouse suites — named after British monarchs so loved by Trump, Elizabeth and Charles — will go for about £60,000 a night. Trump can only dream of such regal connections and rates.
The Sun
an hour ago
- The Sun
Major café chain with 473 locations in UK to shut busy branch just 3 years after it reopened with staff ‘left in tears'
A MAJOR café chain with 473 locations in the UK is due to shut a popular branch with staff 'left in tears'. Pret A Manger has announced its closing the store, just three years after it re-opened. 1 The Gallowtree Gate branch in Leicester City Centre, initially closed in 2020 due to "the effects of the pandemic". However, it made a shock return following an announcement two years later. It re-opened on July 25, 2022 at the same location. But rumours started swirling earlier this week that the popular chain was to shut for good once again. A source told Leicestershire Live that staff were told on Thursday and that there were "lots of tears". A spokesperson for Pret A Manger confirmed that they will be leaving Leister for a second time. They did not give a specific date for the closure but it is expected to be some time in July. They said: "It has been a pleasure serving our customers at Pret's Gallowtree Gate shop in Leicester. "Closing a shop is never a decision we take lightly, and our priority now is supporting our team members." Shoppers were recently stunned when another Pret A Manager branch suddenly closed with no warning in April. The store in Gunwharf Quays, Portsmouth, caught loyal customers by surprise and had been a well-loved part of the outlet centre for years. Another chain, Starbucks, which has over 1,000 UK venues also abruptly pulled the plug on one of its stores in Oxford last month. Pret opened its first shop in London in 1986 and the chain employs 12,500 staff in more than 700 locations across 21 countries. The Sun reported previously reported that Pret's owner, Luxembourg-based Jab Holding, was planning a stock market flotation and could consider selling a stake in the business first. JAB, which also owns Krispy Kreme doughnuts and Keurig Dr Pepper, has ambitions in the insurance and asset management industry and wants to reduce its reliance on the consumer sector. The chain came under fire from customers in April following sweeping changes to its Club Pret subscription. Once offering five free barista-made drinks a day for £30 a month, members now only receive 50 per cent off five drinks a day instead. By Laura McGuire, consumer reporter MANY Food and drink chains have been struggling in recently as the cost of living has led to fewer people spending on eating out. Businesses had been struggling to bounce back after the pandemic, only to be hit with soaring energy bills and inflation. Multiple chains have been affected, resulting in big-name brands like Wetherspoons and Frankie & Benny's closing branches. Some chains have not survived, Byron Burger fell into administration last year, with owners saying it would result in the loss of over 200 jobs. Pizza giant, Papa Johns is shutting down 43 of its stores soon. Tasty, the owner of Wildwood, said it will shut sites as part of major restructuring plans.
