Mark-up Increase Starts on Oct 13!
At the August General Meeting, members voted in favor of temporarily increasing the Coop’s storewide mark-up from 21% to 25% to improve our financial solvency while the Coop operates without its normal member labor program and adheres to physical distancing guidelines with reduced capacity.
The increase to the mark-up will take effect on October 13, 2020, at 9:00 a.m.
There are several important points we want you to know.
IMPACT ON YOUR GROCERY BILL
A 4% increase to the mark-up equals a 3.3% increase to your bill. For example, a $50 shop becomes $51.65 and a $100 shop becomes $103.30.
We will be replacing all shelf labels at the Coop to reflect the new prices. Roughly 5,000 labels will have to be swapped! As you can imagine, it will take us a little time to do this work; we anticipate completing this project by the beginning of November. During the changeover, shelf labels will vary in accuracy as we switch out the old with the new. If you are in doubt about the exact price of an item, you can scan the product on the look-up computer for current price information.
OPTING-OUT AND REMAINING AT 21%
If you are currently experiencing financial hardship, you have the option to continue to purchase products at the 21% mark-up. You can request to opt-out of the 4% increase. No proof of financial hardship is required to request this option.
All members currently enrolled in Plan 4 for fee and investment will automatically remain at 21% and do not need to request to opt-out. Plan 4 members previously showed the Coop proof of income-based assistance to receive a reduced rate for the Coop’s joining fee and equity investment.
Plan 4: If you are currently receiving income-based assistance such as EBT and are not enrolled in the Coop’s Plan 4, speak to a Membership Coordinator at the Second Floor Service Desk. You may enroll in Plan 4 by providing proof of your income-based assistance and qualify for the Coop’s reduced equity investment. EBT cards issued to all families of children enrolled in the NYC Public School system do not qualify for our Plan 4 enrollment because they were not issued on the basis of financial need. Investment payments made in excess of the required $10 will be refunded to you. For more information see page 3 of the Coop’s Membership Manual or speak to a Membership Coordinator.
If you are ready to request to opt-out, you can do that in two ways:
- Log into (or create) your Member Services account, select the ‘Office’ tab, click on the “opt-out for the 4% markup increase” link, read the form, and hit the green button to submit.
Please allow up to 48 hours to process your request.
All requests received before Oct. 13 will be processed on Oct. 13 but not by 9:00 a.m. If you want to guarantee that you will only pay for products at the 21% mark-up, we recommend you shop later in the day on October 13 to give us time to process your request.
Follow this link to Member Services:
- Beginning on Tuesday, Oct. 13, go to the Second Floor Service desk to speak to a Membership Coordinator who will assist you. In-person requests take effect immediately.
Q: When I check out will the checkout screen look different if I opt-out?
A: Just a little bit. On the screen underneath ‘Coupons,’ you will see ‘Adjusted’ and a dollar amount next to it. This dollar amount is the total being deducted from your bill so that your final amount owed reflects the 21% mark-up rather than 25%.
Q: Will my receipt look different if I opt-out?
A: Again, just a little bit. At the bottom of your receipt, below the change owed, you will see TTL ADJ PRE TAX and a dollar amount next to it. This is the same total being deducted from your bill that you saw on the checkout screen.
Q: How will I know what the prices are when I shop?
A: Unfortunately, there is no way for us to display shelf labels at both the 21 and 25% mark-up. If you want to do a quick calculation, you can multiply the price on the shelf label by .968 to get a rough idea of the price you will pay. For example, if a product is priced at $10.33 then $10.33 x .968 = $10.00 which is what the price will be at the 21% markup.
Q: What if I start to check out and then I realize I want to opt-out of the 4% increase?
A: Ask the checkout worker to suspend your transaction and then go to the second-floor service desk and speak to a Membership Coordinator to make the change. You will then return to the checkouts, have your transaction retrieved, and all of the pricing, even items already scanned, will be at 21%.