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Co-op joins the price war in the funeral industry

Geoff Riley

10th September 2018

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Increased competition in the funeral sector, with the Co-op looking to bury its rivals by offering cheaper funerals. The average price of a funeral is falling, with customers opting for no-frills coffins, perhaps reflecting changing consumer tastes.

It also hints at the fact that, previously, the nature of the market saw incumbents exploit relatively inelastic consumer demand for funerals.

The UK Competition and Markets Authority is currently investigating the sector as prices of funerals have grown much more quickly than overall inflation in recent years.

Today we're upping the ante on the #funeral price war. Full #news release here: https://t.co/w4ZuGf1bt2 #TheCoopWay pic.twitter.com/7ygGR76BKQ
— Co-op Press Team (@coopukpress) September 10, 2018

Here's my comment on funeral costs for @TheIndyBusiness . Researching the sector, following Co-operative's announcement of price cuts, was eye opening. I'm afraid the cost of dying in Britain is every bit as ruinous as the cost of living.https://t.co/DU8391PB3s
— James Moore (@JimMooreJourno) September 10, 2018

Classic case of market failure (information gap). Emotionally charged families open to exploitation by funeral providers. https://t.co/78Mp8S6Uuu
— RGSG Economics (@RGSGEconomics) September 10, 2018

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Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.

@tutor2uGeoff

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Co-op joins the price war in the funeral industry

Geoff Riley

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