News Club / 01 March 2024

Are supermarkets price gouging or just doing business?

It’s the BBQ stopper of our time – how much things cost at the supermarket. Compounded by COVID supply chain craziness, lingering inflation, and questions about the retailers’ profit margins, it’s a conversation that is at the intersection of consumers and politics. 

It also had a news ‘moment’ last week when retiring CEO of Woolworths Brad Banducci walked out of (and returned to…) a Four Corners interview. But in recent months there has been lots of takes on competition in the supermarket sector, prices – and on what to do about the cost of living crunch. 

We hope this helps you wrap your head around the nuances in this debate and that you’ll feel a little more informed when you get to the checkout. 

Club Picks:

To Squiz – This graph on the market share of different supermarkets in Australia. It’s the backbone for the conversation and a great factual starting point.

To watch – The Four Corners episode on the tactics supermarkets are using to keep prices high and competition out. It includes the clip of Woolies boss Brad Banducci’s uncomfortable clash with journalist Angus Grigg.

To read – This editorial in the Financial Review says the price gouging claims levelled against the Coles and Woolworths are a bit of a beat-up. Instead, they say it has more to do with the pressure the Albanese Government is facing on the cost of living.

News Club

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