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Woolworths and Coles drew consumer ire for cost-of-living pressures in 2024

Inside Retail

Woolworths and Coles, Australias supermarket goliaths, have gone from Covid-19 heroes to cost-of-living villains in the last two years. billion net profit for the last financial year, with a year-high share price of $19.40 and a low point of $15.24, albeit edging close to the higher mark at years end.

Consumer 246
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ACCC to conduct enquiry on Australian supermarkets’ pricing and competition

Inside Retail

The pricing practices of Australia’s supermarket near-duopoly are about to the the focus of a year-long enquiry by the government’s competition regulator, the Australian Competition and Consumer Commission (ACCC). The regulator’s investigation resulted in identifying more than 700 potentially restrictive leases.

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Chinese retailers’ pricing strategy risks ‘vicious cycle’ of low margins

Inside Retail

Falling income growth is normalising lower consumption in China, with some industries experiencing declining revenue, as “companies are lowering prices to maintain their market share and avoid being squeezed out,” said Wang Dan, a Shanghai-based economist at Hang Seng Bank. at the flagship chain.

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Woolworths sees higher sales despite Big W, other business’ sales decline

Inside Retail

The supermarket chain witnessed its sales increase 5.3 Yet sales at Big W declined 5.5 “While customers continue to be cautious and are trading down within categories, we are seeing solid growth in summer clothing and in opening price point products that offer real value,” said Brad Banducci, CEO at Woolworths.

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‘Illusory’: Woolworths, Coles charged with falsifying discount promotions

Inside Retail

Woolworths and Coles are facing charges from the Australian Competition and Consumer Commission (ACCC) for allegedly misleading customers about the discounted pricing of their products. This means that the resulting prices were lower than during the price spike but higher than or the same as the regular prices.

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What retailers need to know about the latest battle over supermarket prices

Inside Retail

The Australian Competition and Consumer Commission’s (ACCC) allegations that Woolworths and Coles breached the Australian Consumer Law by making misleading claims about discounts come as retailers head into their most promotional period of the year and serve as a warning to the wider industry.

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Price, not volume, driving Australian retail sales growth

Inside Retail

Retail prices increased 4.8 per cent through the year to the June quarter with the largest price rises seen in food and household goods. “On On a quarterly basis, overall retail price growth has already exceeded sales volume growth in both the March and June quarters,” says Rumbens. “On per cent price growth.”.