Business

Co-op slashes funeral prices to ‘beat’ competition

Co-op Funeralcare has cut the prices of its funerals as it guaranteed to “beat other providers’ funeral prices on a like-for-like basis”.

The funeral provider has reduced the prices on its most affordable funeral options by 15 percent since 2015, but the recent price cuts are in response to recent findings from its survey on death and bereavement, which received a response from over 30,000 UK adults. It revealed that as many as four million Brits suffered financial hardship after a bereavement.

Amongst the measures, which come into effect on Monday 10 September, is its new ’guarantee to beat’ commitment. This will see the company commit to beat any like-for-like quote on funeral costs.

Through the changes, Co-op will also be further lowering the cost of its affordable funeral option, the Simple Funeral. From Monday 10 September, the Simple Funeral will reduce in price by £100, undercutting other national providers by taking it to £1895 plus third party costs and £1675 in Scotland.

The changes to the price of the company’s affordable funeral option follow a significant increase in people selecting its most affordable funeral choices, with almost four times as many people choosing these services since 2015.

Furthermore, changes to funeral prices are also being made to support its 4.7 million members. Members will now receive an increased discount of £200 (or five percent if greater) on all of Co-op’s core funeral options . This will take the member price of a simple funeral to £1,695 plus third party costs.

The announcement follows a number of measures the Co-op has already taken to tackle funeral affordability since 2016 which include the launch of its direct cremation service which costs £1,395 and its assistance for Scottish families which offered 16 percent off a simple funeral. The company also launched a new child funeral policy and in July 2016, was the first business to sigh Fair Funerals’ enhanced pledge to tackle funeral poverty.

Robert Maclachlan, managing director of Co-op Funeralcare and Life Planning, said: “The fact that four million Brits have suffered financial hardship after a bereavement is startling. As a member owned organisation, the changes we are making form part of a long term focus we have on leading the market to further assist the bereaved in tackling funeral affordability.

“Funerals are becoming increasingly price sensitive and in the last two years we have seen a huge shift in the number of clients seeking affordable funeral choices. Our new guarantee to beat on price means that families choosing a funeral with the Co-op can be assured that they are receiving a competitively priced funeral, with no compromise on our high standards of care.”

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