As well as the fully-branded facades, which will appear this spring, the show will feature other assets such as posters, bags and cups.
The deal will also allow the two brands to use Coronation Street assets off-air. Zenith was invovled in negotiating the deal for Costa, and Rocket for Co-op.
Mark Trinder, sales director at ITV, said: "The expansion of the Coronation Street set has given us a great opportunity to feature branded shop facades as more of Weatherfield is opened up to viewers.
"Incorporating product placement on this scale is something we have wanted to do for some time and we’re delighted with this exciting opportunity. We’ve worked really closely with the Coronation Street team to make sure we’ve got a great brand fit for Co-op and Costa Coffee with the nation’s favourite soap while still ensuring editorial integrity."
For the Co-op, the deal comes after last year’s launch of a marketing platform that talked up the retailer’s community credentials by profiling some of the local organisations it supports.
Alison Jones, customer director at Co-op, said: "Coronation Street is all about community life and the Co-op is a retailer at the heart of local life and being close to the customer, which makes this a perfect match."
Coronation Street has been broadcast on ITV continually since 1960. It remains one of the most watched programmes on UK TV, with the episode of Friday 19 January attracted a consolidated audience of 8.58 million – the second highest audience of that week, after BBC One’s Call the Midwife.
It became the first peak time TV show to feature product placement in 2011, when a Nationwide ATM was installed inside Dev Alahan's shop.