Co-Op Food, previously branded as The Co-Operative food, is a brand devised for the food retail business of the consumer Co-Operative movement in the United Kingdom. When looking at food retail, the brand is commonly understood to represent one food retail business, though this is not true as it is used by over 15 different Co-Operative societies which operate over 4,000 outlets. Successor to Co-Op Welcome and a range of regional formats, the latest version of the brand was introduced in 2016 with a significant advertising campaign. Customers of many of the larger UK Co-Operative societies can earn an annual share of the profits at any "Co-Operative" branded stores in proportion to purchases through The Co-Operative Membership scheme.
In 2016, The Co-Operative Food accounted for approximately 6.6% of the UK grocery market and was the winner of "convenience retailer of the year" at the 2016 Retail Industry Awards. The Cooperative Retail Group is expanding and will create 1,500 new jobs and open 100 new stores in 2017.
NPS is a customer loyalty metric that measures customers’ willingness to not only return for another purchase or service but also make a recommendation to their family, friends or colleagues.
It is a powerful and effective technique, which can greatly increase a company's revenue if used properly.
The main advantages of NPS are close correlation with a company's growth and easy collection, interpretation and communication of the data.
Net Promoter Score is a number from -100 from 100.
Scores higher than 0 are typically considered to be good and scores above 50 are considered to be excellent.
The industry average for Consumer Brands / Grocery is 24.
The final Net Promoter Score of a company strongly depends on a context in which the satisfaction is measured.
Consider an example: If Co-Op sends out NPS surveys immediately after purchase, they are tracking their customers' initial excitement and the checkout experience.
On the other hand, if they survey their customers a few weeks after the purchase they are also tracking how satisfied their customers are with their products and services over time.
Therefore, comparing the NPS score of Co-Op with your own without any further context is not that useful.
What is extremely useful though, is using the NPS methodology to track the satisfaction of your customers over time. That's where Customer.guru comes in.
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