Have you noticed that your grocery bills have been soaring through the roof recently? You're not the only one. Many Australians are worried that their cost of living is increasing due to the skyrocketing prices of groceries.

Some experts claim that the root of the problem lies with the supermarket duopoly between Coles and Woolworths, the two giants that command nearly 70% of the market share in the country.

So are these supermarkets exploiting Australians while lining their pockets with huge profit margins? Let's examine the facts.

The soaring prices of groceries have become a growing concern for many Australians as they grapple with the rising cost of living. Photo by Matheus Cenali.

In recent reports, the cost of food at Coles and Woolworths had increased by 10.4% and 8.7, respectively, in April alone, with fresh food prices taking a significant 9.9% jump. During that time, investment bank UBS conducted research analysing over 60,000 supermarket products listed at both stores.

Former Australian Competition and Consumer Commission (ACCC) Chair Rod Sims has accused these supermarket titans of causing these price hikes due to a lack of competitiveness in the market. With a combined market share of nearly 70% (37.1% held by Woolworths Group and 27.9% by Coles Group), the two giants are seen as the main drivers behind the mounting cost of living pressures on Australian households.

In comparison, ALDI holds only 9.5% of the market share, IGA has 6.9%, and the remaining 18.6% is held by other retailers such as Costco, Amazon, and independent grocers.

Rod Sims suggested that the duopoly status of Coles and Woolworths allows them to increase their prices by more than necessary to cover their rising costs, ultimately resulting in customers paying more for their groceries.

During an inquiry, the current ACCC boss, Gina Cass-Gottlieb, also expressed her concerns regarding the 'level of concentration in the supermarket sector'. She acknowledged other factors driving higher prices but also stated that these issues could be 'competed away' in a more competitive market.

While Coles and Woolworths have reported a surge in profitability—11.6% and 14% increases, respectively—both supermarkets have attempted to counter accusations of price hiking. Coles attributed its margin expansion to reduced COVID-related costs and their Smarter Selling program, which focuses on loss prevention and supply chain efficiencies. Woolworths, on the other hand, cited higher wholesale prices they were paying to suppliers as a primary driver for grocery inflation.

Despite the explanations offered by the supermarket giants, critics continue to raise eyebrows, questioning the true intent behind these rising grocery prices. The Australia Institute's Director of the Centre for Future Work, Jim Stanford, has accused Coles and Woolworths of capitalising on the unique circumstances following the pandemic to 'fatten their profit margins'.

Strategies To Save Money On Groceries​

With rising grocery prices, finding ways to save money has become increasingly important. By adopting smart strategies, individuals can stretch their grocery budget without compromising on quality or nutrition. Here are five effective strategies to help you save money on your grocery shopping:

• Plan Your Meals and Create a Shopping List:
  • Before heading to the store, plan your meals for the week and create a detailed shopping list based on those meals.
  • This helps you avoid impulse purchases and ensures that you only buy what you need, reducing wastage and saving money.
• Compare Prices and Shop Smart:
  • Take the time to compare prices across different grocery stores or online platforms.
  • Look for discounts, special offers, and bulk deals to maximise your savings.
  • Consider purchasing store brands or generic alternatives, which are often cheaper and can be of comparable quality to branded products.
• Utilise Loyalty Programs:
  • Keep an eye out for sales.
  • Take advantage of loyalty programs offered by grocery stores, which often provide exclusive discounts, rewards, or cash-back offers.
• Buy in Season and Opt for Fresh Produce:
  • Seasonal fruits and vegetables are usually more affordable due to their abundance.
  • Opt for fresh produce instead of pre-cut or pre-packaged options, as they tend to be cheaper.
  • Consider visiting local farmers' markets for potentially lower prices on fresh produce.
• Cook and Eat at Home:
  • Cooking meals at home not only allows you to have more control over the ingredients and nutrition but also saves money.

Key Takeaways

• Greed and the grocery duopoly between Coles and Woolworths are important reasons why prices for groceries have increased in Australia.
• Former Australian Competition and Consumer Commission (ACCC) Chair Rod Sims blamed rising supermarket prices on a lack of competitiveness, citing the duopoly between Coles and Woolworths.
• Coles reported a $616m profit in February, indicating an increase of 11.6 per cent, and Woolworths group posted a $907m profit in the first half of the 2022/23 financial year, a 14 per cent year-on-year increase.
• Mr Sims advocates for more merger reform, preventing Coles and Woolworths from acquiring independent or smaller supermarkets.

While determining the exact extent of responsibility held by the supermarket duopoly in driving up grocery costs can be difficult, we can empower ourselves by making informed shopping choices and being mindful of our spending habits. Whether it's exploring more affordable alternatives, patronising independent grocers, or practising conscious consumption, every small action can make a difference.

Members, what strategies do you employ to save money on groceries and make your shopping more cost-effective? Share your tips and experiences below!

 

[Baz1960]

Surprise, surprise.. we as consumers have always known when being overcharged by the corporate world. Yes, they should make profits. But controlling the market, by their tactics of screwing consumers and suppliers is totally unacceptable, but we accept it for convenience. Yes we are experts, so vote with our feet and seek alternatives.

 

[Tripper]

Have you noticed that your grocery bills have been soaring through the roof recently? You're not the only one. Many Australians are worried that their cost of living is increasing due to the skyrocketing prices of groceries.

Some experts claim that the root of the problem lies with the supermarket duopoly between Coles and Woolworths, the two giants that command nearly 70% of the market share in the country.

So are these supermarkets exploiting Australians while lining their pockets with huge profit margins? Let's examine the facts.

View attachment 21488

The soaring prices of groceries have become a growing concern for many Australians as they grapple with the rising cost of living. Photo by Matheus Cenali.

In recent reports, the cost of food at Coles and Woolworths had increased by 10.4% and 8.7, respectively, in April alone, with fresh food prices taking a significant 9.9% jump. During that time, investment bank UBS conducted research analysing over 60,000 supermarket products listed at both stores.

Former Australian Competition and Consumer Commission (ACCC) Chair Rod Sims has accused these supermarket titans of causing these price hikes due to a lack of competitiveness in the market. With a combined market share of nearly 70% (37.1% held by Woolworths Group and 27.9% by Coles Group), the two giants are seen as the main drivers behind the mounting cost of living pressures on Australian households.

In comparison, ALDI holds only 9.5% of the market share, IGA has 6.9%, and the remaining 18.6% is held by other retailers such as Costco, Amazon, and independent grocers.

Rod Sims suggested that the duopoly status of Coles and Woolworths allows them to increase their prices by more than necessary to cover their rising costs, ultimately resulting in customers paying more for their groceries.

During an inquiry, the current ACCC boss, Gina Cass-Gottlieb, also expressed her concerns regarding the 'level of concentration in the supermarket sector'. She acknowledged other factors driving higher prices but also stated that these issues could be 'competed away' in a more competitive market.

While Coles and Woolworths have reported a surge in profitability—11.6% and 14% increases, respectively—both supermarkets have attempted to counter accusations of price hiking. Coles attributed its margin expansion to reduced COVID-related costs and their Smarter Selling program, which focuses on loss prevention and supply chain efficiencies. Woolworths, on the other hand, cited higher wholesale prices they were paying to suppliers as a primary driver for grocery inflation.

Despite the explanations offered by the supermarket giants, critics continue to raise eyebrows, questioning the true intent behind these rising grocery prices. The Australia Institute's Director of the Centre for Future Work, Jim Stanford, has accused Coles and Woolworths of capitalising on the unique circumstances following the pandemic to 'fatten their profit margins'.

Strategies To Save Money On Groceries​

With rising grocery prices, finding ways to save money has become increasingly important. By adopting smart strategies, individuals can stretch their grocery budget without compromising on quality or nutrition. Here are five effective strategies to help you save money on your grocery shopping:

• Plan Your Meals and Create a Shopping List:
  • Before heading to the store, plan your meals for the week and create a detailed shopping list based on those meals.
  • This helps you avoid impulse purchases and ensures that you only buy what you need, reducing wastage and saving money.
• Compare Prices and Shop Smart:
  • Take the time to compare prices across different grocery stores or online platforms.
  • Look for discounts, special offers, and bulk deals to maximise your savings.
  • Consider purchasing store brands or generic alternatives, which are often cheaper and can be of comparable quality to branded products.
• Utilise Loyalty Programs:
  • Keep an eye out for sales.
  • Take advantage of loyalty programs offered by grocery stores, which often provide exclusive discounts, rewards, or cash-back offers.
• Buy in Season and Opt for Fresh Produce:
  • Seasonal fruits and vegetables are usually more affordable due to their abundance.
  • Opt for fresh produce instead of pre-cut or pre-packaged options, as they tend to be cheaper.
  • Consider visiting local farmers' markets for potentially lower prices on fresh produce.
• Cook and Eat at Home:
  • Cooking meals at home not only allows you to have more control over the ingredients and nutrition but also saves money.

Key Takeaways

• Greed and the grocery duopoly between Coles and Woolworths are important reasons why prices for groceries have increased in Australia.
• Former Australian Competition and Consumer Commission (ACCC) Chair Rod Sims blamed rising supermarket prices on a lack of competitiveness, citing the duopoly between Coles and Woolworths.
• Coles reported a $616m profit in February, indicating an increase of 11.6 per cent, and Woolworths group posted a $907m profit in the first half of the 2022/23 financial year, a 14 per cent year-on-year increase.
• Mr Sims advocates for more merger reform, preventing Coles and Woolworths from acquiring independent or smaller supermarkets.

While determining the exact extent of responsibility held by the supermarket duopoly in driving up grocery costs can be difficult, we can empower ourselves by making informed shopping choices and being mindful of our spending habits. Whether it's exploring more affordable alternatives, patronising independent grocers, or practising conscious consumption, every small action can make a difference.

Members, what strategies do you employ to save money on groceries and make your shopping more cost-effective? Share your tips and experiences below!

It's not only the supermarkets. Bunnings is just as sneaky. Oh that's right owned by Westfarmers too!

 

[bigfelladave]

Have you noticed that your grocery bills have been soaring through the roof recently? You're not the only one. Many Australians are worried that their cost of living is increasing due to the skyrocketing prices of groceries.

Some experts claim that the root of the problem lies with the supermarket duopoly between Coles and Woolworths, the two giants that command nearly 70% of the market share in the country.

So are these supermarkets exploiting Australians while lining their pockets with huge profit margins? Let's examine the facts.

View attachment 21488

The soaring prices of groceries have become a growing concern for many Australians as they grapple with the rising cost of living. Photo by Matheus Cenali.

In recent reports, the cost of food at Coles and Woolworths had increased by 10.4% and 8.7, respectively, in April alone, with fresh food prices taking a significant 9.9% jump. During that time, investment bank UBS conducted research analysing over 60,000 supermarket products listed at both stores.

Former Australian Competition and Consumer Commission (ACCC) Chair Rod Sims has accused these supermarket titans of causing these price hikes due to a lack of competitiveness in the market. With a combined market share of nearly 70% (37.1% held by Woolworths Group and 27.9% by Coles Group), the two giants are seen as the main drivers behind the mounting cost of living pressures on Australian households.

In comparison, ALDI holds only 9.5% of the market share, IGA has 6.9%, and the remaining 18.6% is held by other retailers such as Costco, Amazon, and independent grocers.

Rod Sims suggested that the duopoly status of Coles and Woolworths allows them to increase their prices by more than necessary to cover their rising costs, ultimately resulting in customers paying more for their groceries.

During an inquiry, the current ACCC boss, Gina Cass-Gottlieb, also expressed her concerns regarding the 'level of concentration in the supermarket sector'. She acknowledged other factors driving higher prices but also stated that these issues could be 'competed away' in a more competitive market.

While Coles and Woolworths have reported a surge in profitability—11.6% and 14% increases, respectively—both supermarkets have attempted to counter accusations of price hiking. Coles attributed its margin expansion to reduced COVID-related costs and their Smarter Selling program, which focuses on loss prevention and supply chain efficiencies. Woolworths, on the other hand, cited higher wholesale prices they were paying to suppliers as a primary driver for grocery inflation.

Despite the explanations offered by the supermarket giants, critics continue to raise eyebrows, questioning the true intent behind these rising grocery prices. The Australia Institute's Director of the Centre for Future Work, Jim Stanford, has accused Coles and Woolworths of capitalising on the unique circumstances following the pandemic to 'fatten their profit margins'.

Strategies To Save Money On Groceries​

With rising grocery prices, finding ways to save money has become increasingly important. By adopting smart strategies, individuals can stretch their grocery budget without compromising on quality or nutrition. Here are five effective strategies to help you save money on your grocery shopping:

• Plan Your Meals and Create a Shopping List:
  • Before heading to the store, plan your meals for the week and create a detailed shopping list based on those meals.
  • This helps you avoid impulse purchases and ensures that you only buy what you need, reducing wastage and saving money.
• Compare Prices and Shop Smart:
  • Take the time to compare prices across different grocery stores or online platforms.
  • Look for discounts, special offers, and bulk deals to maximise your savings.
  • Consider purchasing store brands or generic alternatives, which are often cheaper and can be of comparable quality to branded products.
• Utilise Loyalty Programs:
  • Keep an eye out for sales.
  • Take advantage of loyalty programs offered by grocery stores, which often provide exclusive discounts, rewards, or cash-back offers.
• Buy in Season and Opt for Fresh Produce:
  • Seasonal fruits and vegetables are usually more affordable due to their abundance.
  • Opt for fresh produce instead of pre-cut or pre-packaged options, as they tend to be cheaper.
  • Consider visiting local farmers' markets for potentially lower prices on fresh produce.
• Cook and Eat at Home:
  • Cooking meals at home not only allows you to have more control over the ingredients and nutrition but also saves money.

Key Takeaways

• Greed and the grocery duopoly between Coles and Woolworths are important reasons why prices for groceries have increased in Australia.
• Former Australian Competition and Consumer Commission (ACCC) Chair Rod Sims blamed rising supermarket prices on a lack of competitiveness, citing the duopoly between Coles and Woolworths.
• Coles reported a $616m profit in February, indicating an increase of 11.6 per cent, and Woolworths group posted a $907m profit in the first half of the 2022/23 financial year, a 14 per cent year-on-year increase.
• Mr Sims advocates for more merger reform, preventing Coles and Woolworths from acquiring independent or smaller supermarkets.

While determining the exact extent of responsibility held by the supermarket duopoly in driving up grocery costs can be difficult, we can empower ourselves by making informed shopping choices and being mindful of our spending habits. Whether it's exploring more affordable alternatives, patronising independent grocers, or practising conscious consumption, every small action can make a difference.

Members, what strategies do you employ to save money on groceries and make your shopping more cost-effective? Share your tips and experiences below!

Woolies has 'canned' selling their Essentials (Woolworths) brand 500g cans of instant coffee. While it's not the greatest coffee, it was more than affordable at $7-ish per. I quite liked it. Many pensioners did too. Now it has been withdrawn, and the next cheapest coffee is twice the price (and to me is nearly undrinkable). On contacting Woolworths, the helpful operator submitted a request to resupply. That is only one request. Many more are required to get this back on the shelf. Seniors Discount Club is an ideal platform to achieve this. Can you help?

 

[Lynjw]

Have you noticed that your grocery bills have been soaring through the roof recently? You're not the only one. Many Australians are worried that their cost of living is increasing due to the skyrocketing prices of groceries.

Some experts claim that the root of the problem lies with the supermarket duopoly between Coles and Woolworths, the two giants that command nearly 70% of the market share in the country.

So are these supermarkets exploiting Australians while lining their pockets with huge profit margins? Let's examine the facts.

View attachment 21488

The soaring prices of groceries have become a growing concern for many Australians as they grapple with the rising cost of living. Photo by Matheus Cenali.

In recent reports, the cost of food at Coles and Woolworths had increased by 10.4% and 8.7, respectively, in April alone, with fresh food prices taking a significant 9.9% jump. During that time, investment bank UBS conducted research analysing over 60,000 supermarket products listed at both stores.

Former Australian Competition and Consumer Commission (ACCC) Chair Rod Sims has accused these supermarket titans of causing these price hikes due to a lack of competitiveness in the market. With a combined market share of nearly 70% (37.1% held by Woolworths Group and 27.9% by Coles Group), the two giants are seen as the main drivers behind the mounting cost of living pressures on Australian households.

In comparison, ALDI holds only 9.5% of the market share, IGA has 6.9%, and the remaining 18.6% is held by other retailers such as Costco, Amazon, and independent grocers.

Rod Sims suggested that the duopoly status of Coles and Woolworths allows them to increase their prices by more than necessary to cover their rising costs, ultimately resulting in customers paying more for their groceries.

During an inquiry, the current ACCC boss, Gina Cass-Gottlieb, also expressed her concerns regarding the 'level of concentration in the supermarket sector'. She acknowledged other factors driving higher prices but also stated that these issues could be 'competed away' in a more competitive market.

While Coles and Woolworths have reported a surge in profitability—11.6% and 14% increases, respectively—both supermarkets have attempted to counter accusations of price hiking. Coles attributed its margin expansion to reduced COVID-related costs and their Smarter Selling program, which focuses on loss prevention and supply chain efficiencies. Woolworths, on the other hand, cited higher wholesale prices they were paying to suppliers as a primary driver for grocery inflation.

Despite the explanations offered by the supermarket giants, critics continue to raise eyebrows, questioning the true intent behind these rising grocery prices. The Australia Institute's Director of the Centre for Future Work, Jim Stanford, has accused Coles and Woolworths of capitalising on the unique circumstances following the pandemic to 'fatten their profit margins'.

Strategies To Save Money On Groceries​

With rising grocery prices, finding ways to save money has become increasingly important. By adopting smart strategies, individuals can stretch their grocery budget without compromising on quality or nutrition. Here are five effective strategies to help you save money on your grocery shopping:

• Plan Your Meals and Create a Shopping List:
  • Before heading to the store, plan your meals for the week and create a detailed shopping list based on those meals.
  • This helps you avoid impulse purchases and ensures that you only buy what you need, reducing wastage and saving money.
• Compare Prices and Shop Smart:
  • Take the time to compare prices across different grocery stores or online platforms.
  • Look for discounts, special offers, and bulk deals to maximise your savings.
  • Consider purchasing store brands or generic alternatives, which are often cheaper and can be of comparable quality to branded products.
• Utilise Loyalty Programs:
  • Keep an eye out for sales.
  • Take advantage of loyalty programs offered by grocery stores, which often provide exclusive discounts, rewards, or cash-back offers.
• Buy in Season and Opt for Fresh Produce:
  • Seasonal fruits and vegetables are usually more affordable due to their abundance.
  • Opt for fresh produce instead of pre-cut or pre-packaged options, as they tend to be cheaper.
  • Consider visiting local farmers' markets for potentially lower prices on fresh produce.
• Cook and Eat at Home:
  • Cooking meals at home not only allows you to have more control over the ingredients and nutrition but also saves money.

Key Takeaways

• Greed and the grocery duopoly between Coles and Woolworths are important reasons why prices for groceries have increased in Australia.
• Former Australian Competition and Consumer Commission (ACCC) Chair Rod Sims blamed rising supermarket prices on a lack of competitiveness, citing the duopoly between Coles and Woolworths.
• Coles reported a $616m profit in February, indicating an increase of 11.6 per cent, and Woolworths group posted a $907m profit in the first half of the 2022/23 financial year, a 14 per cent year-on-year increase.
• Mr Sims advocates for more merger reform, preventing Coles and Woolworths from acquiring independent or smaller supermarkets.

While determining the exact extent of responsibility held by the supermarket duopoly in driving up grocery costs can be difficult, we can empower ourselves by making informed shopping choices and being mindful of our spending habits. Whether it's exploring more affordable alternatives, patronising independent grocers, or practising conscious consumption, every small action can make a difference.

Members, what strategies do you employ to save money on groceries and make your shopping more cost-effective? Share your tips and experiences below!

Considering their profits prices should not be as high. I know they have some obligations to their shareholders but that should be outweighed by their moral obligations to the public in these tough times.

 

[Cheezil]

Have you noticed that your grocery bills have been soaring through the roof recently? You're not the only one. Many Australians are worried that their cost of living is increasing due to the skyrocketing prices of groceries.

Some experts claim that the root of the problem lies with the supermarket duopoly between Coles and Woolworths, the two giants that command nearly 70% of the market share in the country.

So are these supermarkets exploiting Australians while lining their pockets with huge profit margins? Let's examine the facts.

View attachment 21488

The soaring prices of groceries have become a growing concern for many Australians as they grapple with the rising cost of living. Photo by Matheus Cenali.

In recent reports, the cost of food at Coles and Woolworths had increased by 10.4% and 8.7, respectively, in April alone, with fresh food prices taking a significant 9.9% jump. During that time, investment bank UBS conducted research analysing over 60,000 supermarket products listed at both stores.

Former Australian Competition and Consumer Commission (ACCC) Chair Rod Sims has accused these supermarket titans of causing these price hikes due to a lack of competitiveness in the market. With a combined market share of nearly 70% (37.1% held by Woolworths Group and 27.9% by Coles Group), the two giants are seen as the main drivers behind the mounting cost of living pressures on Australian households.

In comparison, ALDI holds only 9.5% of the market share, IGA has 6.9%, and the remaining 18.6% is held by other retailers such as Costco, Amazon, and independent grocers.

Rod Sims suggested that the duopoly status of Coles and Woolworths allows them to increase their prices by more than necessary to cover their rising costs, ultimately resulting in customers paying more for their groceries.

During an inquiry, the current ACCC boss, Gina Cass-Gottlieb, also expressed her concerns regarding the 'level of concentration in the supermarket sector'. She acknowledged other factors driving higher prices but also stated that these issues could be 'competed away' in a more competitive market.

While Coles and Woolworths have reported a surge in profitability—11.6% and 14% increases, respectively—both supermarkets have attempted to counter accusations of price hiking. Coles attributed its margin expansion to reduced COVID-related costs and their Smarter Selling program, which focuses on loss prevention and supply chain efficiencies. Woolworths, on the other hand, cited higher wholesale prices they were paying to suppliers as a primary driver for grocery inflation.

Despite the explanations offered by the supermarket giants, critics continue to raise eyebrows, questioning the true intent behind these rising grocery prices. The Australia Institute's Director of the Centre for Future Work, Jim Stanford, has accused Coles and Woolworths of capitalising on the unique circumstances following the pandemic to 'fatten their profit margins'.

Strategies To Save Money On Groceries​

With rising grocery prices, finding ways to save money has become increasingly important. By adopting smart strategies, individuals can stretch their grocery budget without compromising on quality or nutrition. Here are five effective strategies to help you save money on your grocery shopping:

• Plan Your Meals and Create a Shopping List:
  • Before heading to the store, plan your meals for the week and create a detailed shopping list based on those meals.
  • This helps you avoid impulse purchases and ensures that you only buy what you need, reducing wastage and saving money.
• Compare Prices and Shop Smart:
  • Take the time to compare prices across different grocery stores or online platforms.
  • Look for discounts, special offers, and bulk deals to maximise your savings.
  • Consider purchasing store brands or generic alternatives, which are often cheaper and can be of comparable quality to branded products.
• Utilise Loyalty Programs:
  • Keep an eye out for sales.
  • Take advantage of loyalty programs offered by grocery stores, which often provide exclusive discounts, rewards, or cash-back offers.
• Buy in Season and Opt for Fresh Produce:
  • Seasonal fruits and vegetables are usually more affordable due to their abundance.
  • Opt for fresh produce instead of pre-cut or pre-packaged options, as they tend to be cheaper.
  • Consider visiting local farmers' markets for potentially lower prices on fresh produce.
• Cook and Eat at Home:
  • Cooking meals at home not only allows you to have more control over the ingredients and nutrition but also saves money.

Key Takeaways

• Greed and the grocery duopoly between Coles and Woolworths are important reasons why prices for groceries have increased in Australia.
• Former Australian Competition and Consumer Commission (ACCC) Chair Rod Sims blamed rising supermarket prices on a lack of competitiveness, citing the duopoly between Coles and Woolworths.
• Coles reported a $616m profit in February, indicating an increase of 11.6 per cent, and Woolworths group posted a $907m profit in the first half of the 2022/23 financial year, a 14 per cent year-on-year increase.
• Mr Sims advocates for more merger reform, preventing Coles and Woolworths from acquiring independent or smaller supermarkets.

While determining the exact extent of responsibility held by the supermarket duopoly in driving up grocery costs can be difficult, we can empower ourselves by making informed shopping choices and being mindful of our spending habits. Whether it's exploring more affordable alternatives, patronising independent grocers, or practising conscious consumption, every small action can make a difference.

Members, what strategies do you employ to save money on groceries and make your shopping more cost-effective? Share your tips and experiences below!

I doubt any of this will come as a surprise to anyone here! How/why are they allowed to get away with it, thats what no one understands! Meanwhile ripping off their employees/wages, great!

 

[Douglas1934]

Have you noticed that your grocery bills have been soaring through the roof recently? You're not the only one. Many Australians are worried that their cost of living is increasing due to the skyrocketing prices of groceries.

Some experts claim that the root of the problem lies with the supermarket duopoly between Coles and Woolworths, the two giants that command nearly 70% of the market share in the country.

So are these supermarkets exploiting Australians while lining their pockets with huge profit margins? Let's examine the facts.

View attachment 21488

The soaring prices of groceries have become a growing concern for many Australians as they grapple with the rising cost of living. Photo by Matheus Cenali.

In recent reports, the cost of food at Coles and Woolworths had increased by 10.4% and 8.7, respectively, in April alone, with fresh food prices taking a significant 9.9% jump. During that time, investment bank UBS conducted research analysing over 60,000 supermarket products listed at both stores.

Former Australian Competition and Consumer Commission (ACCC) Chair Rod Sims has accused these supermarket titans of causing these price hikes due to a lack of competitiveness in the market. With a combined market share of nearly 70% (37.1% held by Woolworths Group and 27.9% by Coles Group), the two giants are seen as the main drivers behind the mounting cost of living pressures on Australian households.

In comparison, ALDI holds only 9.5% of the market share, IGA has 6.9%, and the remaining 18.6% is held by other retailers such as Costco, Amazon, and independent grocers.

Rod Sims suggested that the duopoly status of Coles and Woolworths allows them to increase their prices by more than necessary to cover their rising costs, ultimately resulting in customers paying more for their groceries.

During an inquiry, the current ACCC boss, Gina Cass-Gottlieb, also expressed her concerns regarding the 'level of concentration in the supermarket sector'. She acknowledged other factors driving higher prices but also stated that these issues could be 'competed away' in a more competitive market.

While Coles and Woolworths have reported a surge in profitability—11.6% and 14% increases, respectively—both supermarkets have attempted to counter accusations of price hiking. Coles attributed its margin expansion to reduced COVID-related costs and their Smarter Selling program, which focuses on loss prevention and supply chain efficiencies. Woolworths, on the other hand, cited higher wholesale prices they were paying to suppliers as a primary driver for grocery inflation.

Despite the explanations offered by the supermarket giants, critics continue to raise eyebrows, questioning the true intent behind these rising grocery prices. The Australia Institute's Director of the Centre for Future Work, Jim Stanford, has accused Coles and Woolworths of capitalising on the unique circumstances following the pandemic to 'fatten their profit margins'.

Strategies To Save Money On Groceries​

With rising grocery prices, finding ways to save money has become increasingly important. By adopting smart strategies, individuals can stretch their grocery budget without compromising on quality or nutrition. Here are five effective strategies to help you save money on your grocery shopping:

• Plan Your Meals and Create a Shopping List:
  • Before heading to the store, plan your meals for the week and create a detailed shopping list based on those meals.
  • This helps you avoid impulse purchases and ensures that you only buy what you need, reducing wastage and saving money.
• Compare Prices and Shop Smart:
  • Take the time to compare prices across different grocery stores or online platforms.
  • Look for discounts, special offers, and bulk deals to maximise your savings.
  • Consider purchasing store brands or generic alternatives, which are often cheaper and can be of comparable quality to branded products.
• Utilise Loyalty Programs:
  • Keep an eye out for sales.
  • Take advantage of loyalty programs offered by grocery stores, which often provide exclusive discounts, rewards, or cash-back offers.
• Buy in Season and Opt for Fresh Produce:
  • Seasonal fruits and vegetables are usually more affordable due to their abundance.
  • Opt for fresh produce instead of pre-cut or pre-packaged options, as they tend to be cheaper.
  • Consider visiting local farmers' markets for potentially lower prices on fresh produce.
• Cook and Eat at Home:
  • Cooking meals at home not only allows you to have more control over the ingredients and nutrition but also saves money.

Key Takeaways

• Greed and the grocery duopoly between Coles and Woolworths are important reasons why prices for groceries have increased in Australia.
• Former Australian Competition and Consumer Commission (ACCC) Chair Rod Sims blamed rising supermarket prices on a lack of competitiveness, citing the duopoly between Coles and Woolworths.
• Coles reported a $616m profit in February, indicating an increase of 11.6 per cent, and Woolworths group posted a $907m profit in the first half of the 2022/23 financial year, a 14 per cent year-on-year increase.
• Mr Sims advocates for more merger reform, preventing Coles and Woolworths from acquiring independent or smaller supermarkets.

While determining the exact extent of responsibility held by the supermarket duopoly in driving up grocery costs can be difficult, we can empower ourselves by making informed shopping choices and being mindful of our spending habits. Whether it's exploring more affordable alternatives, patronising independent grocers, or practising conscious consumption, every small action can make a difference.

Members, what strategies do you employ to save money on groceries and make your shopping more cost-effective? Share your tips and experiences below!

Not only are their prices increased but the product has become smaller. Where is the ACCC?

 

[Capsam]

I am paying between $250 - $275 per fortnight but this is actually purchasing less than previously. Each fortnight I see items I generally purchase have increased in price, 50c here, $1:50 there. I buy only 1 meat item per fortnight. You learn to do without. This of course is not an issue for rich politicians or bureaucrats who are just planning their next holiday or investment. It is also not an issue for the big duopoly as we are a semi-captive audience!

 

[jay2]

I doubt any of this will come as a surprise to anyone here! How/why are they allowed to get away with it, thats what no one understands! Meanwhile ripping off their employees/wages, great!

What is the ACC doing about it

 

[Shane/#]

Have you noticed that your grocery bills have been soaring through the roof recently? You're not the only one. Many Australians are worried that their cost of living is increasing due to the skyrocketing prices of groceries.

Some experts claim that the root of the problem lies with the supermarket duopoly between Coles and Woolworths, the two giants that command nearly 70% of the market share in the country.

So are these supermarkets exploiting Australians while lining their pockets with huge profit margins? Let's examine the facts.

View attachment 21488

The soaring prices of groceries have become a growing concern for many Australians as they grapple with the rising cost of living. Photo by Matheus Cenali.

In recent reports, the cost of food at Coles and Woolworths had increased by 10.4% and 8.7, respectively, in April alone, with fresh food prices taking a significant 9.9% jump. During that time, investment bank UBS conducted research analysing over 60,000 supermarket products listed at both stores.

Former Australian Competition and Consumer Commission (ACCC) Chair Rod Sims has accused these supermarket titans of causing these price hikes due to a lack of competitiveness in the market. With a combined market share of nearly 70% (37.1% held by Woolworths Group and 27.9% by Coles Group), the two giants are seen as the main drivers behind the mounting cost of living pressures on Australian households.

In comparison, ALDI holds only 9.5% of the market share, IGA has 6.9%, and the remaining 18.6% is held by other retailers such as Costco, Amazon, and independent grocers.

Rod Sims suggested that the duopoly status of Coles and Woolworths allows them to increase their prices by more than necessary to cover their rising costs, ultimately resulting in customers paying more for their groceries.

During an inquiry, the current ACCC boss, Gina Cass-Gottlieb, also expressed her concerns regarding the 'level of concentration in the supermarket sector'. She acknowledged other factors driving higher prices but also stated that these issues could be 'competed away' in a more competitive market.

While Coles and Woolworths have reported a surge in profitability—11.6% and 14% increases, respectively—both supermarkets have attempted to counter accusations of price hiking. Coles attributed its margin expansion to reduced COVID-related costs and their Smarter Selling program, which focuses on loss prevention and supply chain efficiencies. Woolworths, on the other hand, cited higher wholesale prices they were paying to suppliers as a primary driver for grocery inflation.

Despite the explanations offered by the supermarket giants, critics continue to raise eyebrows, questioning the true intent behind these rising grocery prices. The Australia Institute's Director of the Centre for Future Work, Jim Stanford, has accused Coles and Woolworths of capitalising on the unique circumstances following the pandemic to 'fatten their profit margins'.

Strategies To Save Money On Groceries​

With rising grocery prices, finding ways to save money has become increasingly important. By adopting smart strategies, individuals can stretch their grocery budget without compromising on quality or nutrition. Here are five effective strategies to help you save money on your grocery shopping:

• Plan Your Meals and Create a Shopping List:
  • Before heading to the store, plan your meals for the week and create a detailed shopping list based on those meals.
  • This helps you avoid impulse purchases and ensures that you only buy what you need, reducing wastage and saving money.
• Compare Prices and Shop Smart:
  • Take the time to compare prices across different grocery stores or online platforms.
  • Look for discounts, special offers, and bulk deals to maximise your savings.
  • Consider purchasing store brands or generic alternatives, which are often cheaper and can be of comparable quality to branded products.
• Utilise Loyalty Programs:
  • Keep an eye out for sales.
  • Take advantage of loyalty programs offered by grocery stores, which often provide exclusive discounts, rewards, or cash-back offers.
• Buy in Season and Opt for Fresh Produce:
  • Seasonal fruits and vegetables are usually more affordable due to their abundance.
  • Opt for fresh produce instead of pre-cut or pre-packaged options, as they tend to be cheaper.
  • Consider visiting local farmers' markets for potentially lower prices on fresh produce.
• Cook and Eat at Home:
  • Cooking meals at home not only allows you to have more control over the ingredients and nutrition but also saves money.

Key Takeaways

• Greed and the grocery duopoly between Coles and Woolworths are important reasons why prices for groceries have increased in Australia.
• Former Australian Competition and Consumer Commission (ACCC) Chair Rod Sims blamed rising supermarket prices on a lack of competitiveness, citing the duopoly between Coles and Woolworths.
• Coles reported a $616m profit in February, indicating an increase of 11.6 per cent, and Woolworths group posted a $907m profit in the first half of the 2022/23 financial year, a 14 per cent year-on-year increase.
• Mr Sims advocates for more merger reform, preventing Coles and Woolworths from acquiring independent or smaller supermarkets.

While determining the exact extent of responsibility held by the supermarket duopoly in driving up grocery costs can be difficult, we can empower ourselves by making informed shopping choices and being mindful of our spending habits. Whether it's exploring more affordable alternatives, patronising independent grocers, or practising conscious consumption, every small action can make a difference.

Members, what strategies do you employ to save money on groceries and make your shopping more cost-effective? Share your tips and experiences below!

Customer's been getting ripped off for year's and they still shop there they are my last resort after Aldi

 

[Cheezil]

Not only are their prices increased but the product has become smaller. Where is the ACCC?

Great point! No one else is allowed to get away wit ripping people off legally!

 

[Bruce9996]

Even Aldi has increased certain products. 1kg frozen peas, gone from $2.80 to $4.80 in the past 2 weeks.

 

[upanddown]

Have you noticed that your grocery bills have been soaring through the roof recently? You're not the only one. Many Australians are worried that their cost of living is increasing due to the skyrocketing prices of groceries.

Some experts claim that the root of the problem lies with the supermarket duopoly between Coles and Woolworths, the two giants that command nearly 70% of the market share in the country.

So are these supermarkets exploiting Australians while lining their pockets with huge profit margins? Let's examine the facts.

View attachment 21488

The soaring prices of groceries have become a growing concern for many Australians as they grapple with the rising cost of living. Photo by Matheus Cenali.

In recent reports, the cost of food at Coles and Woolworths had increased by 10.4% and 8.7, respectively, in April alone, with fresh food prices taking a significant 9.9% jump. During that time, investment bank UBS conducted research analysing over 60,000 supermarket products listed at both stores.

Former Australian Competition and Consumer Commission (ACCC) Chair Rod Sims has accused these supermarket titans of causing these price hikes due to a lack of competitiveness in the market. With a combined market share of nearly 70% (37.1% held by Woolworths Group and 27.9% by Coles Group), the two giants are seen as the main drivers behind the mounting cost of living pressures on Australian households.

In comparison, ALDI holds only 9.5% of the market share, IGA has 6.9%, and the remaining 18.6% is held by other retailers such as Costco, Amazon, and independent grocers.

Rod Sims suggested that the duopoly status of Coles and Woolworths allows them to increase their prices by more than necessary to cover their rising costs, ultimately resulting in customers paying more for their groceries.

During an inquiry, the current ACCC boss, Gina Cass-Gottlieb, also expressed her concerns regarding the 'level of concentration in the supermarket sector'. She acknowledged other factors driving higher prices but also stated that these issues could be 'competed away' in a more competitive market.

While Coles and Woolworths have reported a surge in profitability—11.6% and 14% increases, respectively—both supermarkets have attempted to counter accusations of price hiking. Coles attributed its margin expansion to reduced COVID-related costs and their Smarter Selling program, which focuses on loss prevention and supply chain efficiencies. Woolworths, on the other hand, cited higher wholesale prices they were paying to suppliers as a primary driver for grocery inflation.

Despite the explanations offered by the supermarket giants, critics continue to raise eyebrows, questioning the true intent behind these rising grocery prices. The Australia Institute's Director of the Centre for Future Work, Jim Stanford, has accused Coles and Woolworths of capitalising on the unique circumstances following the pandemic to 'fatten their profit margins'.

Strategies To Save Money On Groceries​

With rising grocery prices, finding ways to save money has become increasingly important. By adopting smart strategies, individuals can stretch their grocery budget without compromising on quality or nutrition. Here are five effective strategies to help you save money on your grocery shopping:

• Plan Your Meals and Create a Shopping List:
  • Before heading to the store, plan your meals for the week and create a detailed shopping list based on those meals.
  • This helps you avoid impulse purchases and ensures that you only buy what you need, reducing wastage and saving money.
• Compare Prices and Shop Smart:
  • Take the time to compare prices across different grocery stores or online platforms.
  • Look for discounts, special offers, and bulk deals to maximise your savings.
  • Consider purchasing store brands or generic alternatives, which are often cheaper and can be of comparable quality to branded products.
• Utilise Loyalty Programs:
  • Keep an eye out for sales.
  • Take advantage of loyalty programs offered by grocery stores, which often provide exclusive discounts, rewards, or cash-back offers.
• Buy in Season and Opt for Fresh Produce:
  • Seasonal fruits and vegetables are usually more affordable due to their abundance.
  • Opt for fresh produce instead of pre-cut or pre-packaged options, as they tend to be cheaper.
  • Consider visiting local farmers' markets for potentially lower prices on fresh produce.
• Cook and Eat at Home:
  • Cooking meals at home not only allows you to have more control over the ingredients and nutrition but also saves money.

Key Takeaways

• Greed and the grocery duopoly between Coles and Woolworths are important reasons why prices for groceries have increased in Australia.
• Former Australian Competition and Consumer Commission (ACCC) Chair Rod Sims blamed rising supermarket prices on a lack of competitiveness, citing the duopoly between Coles and Woolworths.
• Coles reported a $616m profit in February, indicating an increase of 11.6 per cent, and Woolworths group posted a $907m profit in the first half of the 2022/23 financial year, a 14 per cent year-on-year increase.
• Mr Sims advocates for more merger reform, preventing Coles and Woolworths from acquiring independent or smaller supermarkets.

While determining the exact extent of responsibility held by the supermarket duopoly in driving up grocery costs can be difficult, we can empower ourselves by making informed shopping choices and being mindful of our spending habits. Whether it's exploring more affordable alternatives, patronising independent grocers, or practising conscious consumption, every small action can make a difference.

Members, what strategies do you employ to save money on groceries and make your shopping more cost-effective? Share your tips and experiences below!

All supermarkets have raised their prices, for instance, Aldi soft drinks are now 85 cents (71)& powdered milk is $9 ($6,30) & yoghurt $3.95 ($3.45)- increases which are far more than the reasons stated above regards the so called COVID related costs which is a load of crap as 3 financial years have passed since the so called pandemic period during which time none of the food retailers incurred trading losses and all have had healthy profits - possibly due to screwing their suppliers while maintaining their margins. I wonder how much of the 10 cents a litre promised to go to farmers actually went when the milk price wars ended and milk has risen yet again. As for Coles proclaiming "Dropped & Locked" I have found many, many items have in fact INCREASED in price until July 4th - these sorts of marketing claims should be reported to the ACCC who will in turn do nothing to stop them continually occurring, I can understand why the common folk are raiding the supermarket rubbish bins to gather fruit and vegetables which aren't sold due to the prices charged in store . Food retailers have their customers by the financial groin area when it comes to food and they squeeze at every opportunity.

 

[meeka]

Even Aldi has increased certain products. 1kg frozen peas, gone from $2.80 to $4.80 in the past 2 weeks.

 

[Anthony Evans]

Every one is in on it. Why aren't the media investigating how much more the farmers are charging and making. Tradesmen are no different $240 before they get in the door after that $25 every 15 mins + any parts for which they charge top dollar how can that sort of charge be justified unfortunately they are all on it. I had cause to go to the pediatrist normally $50 was told it had gone to $70 up due to increase costs. Why do they because they can it is called greed.

 

[Judith1946]

As a disabled pensioner I‘m unable to actually go to a shop myself very often. I’m at the mercy of shops that will deliver to me. It’s really difficult, not to say isolating and frustrating working within my budget.

 

[Grahamclarke]

We use to do all our weekly shop at one store but that has all changed we now price check between stores to get the best price and that includes picking up some fresh veg from road side stalls. We are fortunate to have a number of retailers close by so don’t spend extra on fuel

 

[RTS]

Cole's and Woolies increased a lot of prices by 25%, citing petrol price increases as the reason. Butter went from $5 to $7, and cheese became very expensive.
It was quite obvious that they waited for a change of government and then used the first excuse they could find.
The reserve bank got on board with interest rate increases which are continuing to rise.
The ACCC should investigate the RBA and those supermarkets, especially as petrol prices are back to to what they were before the gouging began.

 

[IAN3005]

People power... the people do not realize the power they have if working together.... drive them out of town by not shopping there.... I have stopped shopping there for over 10 years. If everyone did this for 3 months watch them twitch.

 

[Mancub1967]

Have you noticed that your grocery bills have been soaring through the roof recently? You're not the only one. Many Australians are worried that their cost of living is increasing due to the skyrocketing prices of groceries.

Some experts claim that the root of the problem lies with the supermarket duopoly between Coles and Woolworths, the two giants that command nearly 70% of the market share in the country.

So are these supermarkets exploiting Australians while lining their pockets with huge profit margins? Let's examine the facts.

View attachment 21488

The soaring prices of groceries have become a growing concern for many Australians as they grapple with the rising cost of living. Photo by Matheus Cenali.

In recent reports, the cost of food at Coles and Woolworths had increased by 10.4% and 8.7, respectively, in April alone, with fresh food prices taking a significant 9.9% jump. During that time, investment bank UBS conducted research analysing over 60,000 supermarket products listed at both stores.

Former Australian Competition and Consumer Commission (ACCC) Chair Rod Sims has accused these supermarket titans of causing these price hikes due to a lack of competitiveness in the market. With a combined market share of nearly 70% (37.1% held by Woolworths Group and 27.9% by Coles Group), the two giants are seen as the main drivers behind the mounting cost of living pressures on Australian households.

In comparison, ALDI holds only 9.5% of the market share, IGA has 6.9%, and the remaining 18.6% is held by other retailers such as Costco, Amazon, and independent grocers.

Rod Sims suggested that the duopoly status of Coles and Woolworths allows them to increase their prices by more than necessary to cover their rising costs, ultimately resulting in customers paying more for their groceries.

During an inquiry, the current ACCC boss, Gina Cass-Gottlieb, also expressed her concerns regarding the 'level of concentration in the supermarket sector'. She acknowledged other factors driving higher prices but also stated that these issues could be 'competed away' in a more competitive market.

While Coles and Woolworths have reported a surge in profitability—11.6% and 14% increases, respectively—both supermarkets have attempted to counter accusations of price hiking. Coles attributed its margin expansion to reduced COVID-related costs and their Smarter Selling program, which focuses on loss prevention and supply chain efficiencies. Woolworths, on the other hand, cited higher wholesale prices they were paying to suppliers as a primary driver for grocery inflation.

Despite the explanations offered by the supermarket giants, critics continue to raise eyebrows, questioning the true intent behind these rising grocery prices. The Australia Institute's Director of the Centre for Future Work, Jim Stanford, has accused Coles and Woolworths of capitalising on the unique circumstances following the pandemic to 'fatten their profit margins'.

Strategies To Save Money On Groceries​

With rising grocery prices, finding ways to save money has become increasingly important. By adopting smart strategies, individuals can stretch their grocery budget without compromising on quality or nutrition. Here are five effective strategies to help you save money on your grocery shopping:

• Plan Your Meals and Create a Shopping List:
  • Before heading to the store, plan your meals for the week and create a detailed shopping list based on those meals.
  • This helps you avoid impulse purchases and ensures that you only buy what you need, reducing wastage and saving money.
• Compare Prices and Shop Smart:
  • Take the time to compare prices across different grocery stores or online platforms.
  • Look for discounts, special offers, and bulk deals to maximise your savings.
  • Consider purchasing store brands or generic alternatives, which are often cheaper and can be of comparable quality to branded products.
• Utilise Loyalty Programs:
  • Keep an eye out for sales.
  • Take advantage of loyalty programs offered by grocery stores, which often provide exclusive discounts, rewards, or cash-back offers.
• Buy in Season and Opt for Fresh Produce:
  • Seasonal fruits and vegetables are usually more affordable due to their abundance.
  • Opt for fresh produce instead of pre-cut or pre-packaged options, as they tend to be cheaper.
  • Consider visiting local farmers' markets for potentially lower prices on fresh produce.
• Cook and Eat at Home:
  • Cooking meals at home not only allows you to have more control over the ingredients and nutrition but also saves money.

Key Takeaways

• Greed and the grocery duopoly between Coles and Woolworths are important reasons why prices for groceries have increased in Australia.
• Former Australian Competition and Consumer Commission (ACCC) Chair Rod Sims blamed rising supermarket prices on a lack of competitiveness, citing the duopoly between Coles and Woolworths.
• Coles reported a $616m profit in February, indicating an increase of 11.6 per cent, and Woolworths group posted a $907m profit in the first half of the 2022/23 financial year, a 14 per cent year-on-year increase.
• Mr Sims advocates for more merger reform, preventing Coles and Woolworths from acquiring independent or smaller supermarkets.

While determining the exact extent of responsibility held by the supermarket duopoly in driving up grocery costs can be difficult, we can empower ourselves by making informed shopping choices and being mindful of our spending habits. Whether it's exploring more affordable alternatives, patronising independent grocers, or practising conscious consumption, every small action can make a difference.

Members, what strategies do you employ to save money on groceries and make your shopping more cost-effective? Share your tips and experiences below!