Shoppers spot sneaky change at Coles prior to upcoming price gouging inquiry
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As the Australian community braces for the upcoming parliamentary inquiry into alleged supermarket price gouging, some eagle-eyed shoppers have taken to social media to highlight a significant change at Coles supermarkets.
With the cost of living on the rise, these ‘changes’ have sparked a conversation about the pricing strategies of major grocery chains.
The story starts with a couple filming their experience walking through a Coles store, noting an unusual number of markdowns.
The video, which quickly circulated online, showcased aisle after aisle adorned with yellow markdown tickets, suggesting a store-wide discounting spree.
The woman in the video can be heard expressing her disbelief, 'This is actually insane. As if this is normal. This is not normal.'
Another person commented: 'So funny watching Coles publicly sh**ting their pants.'
The footage has prompted discussions among shoppers over whether this is a genuine attempt by Coles to offer relief to consumers or a strategic move to mitigate negative perceptions ahead of the inquiry.
The inquiry itself was announced after widespread criticism of Coles and Woolworths, as both supermarkets reported significant profits amidst Australians grappling with soaring inflation, rent hikes, and interest rate increases.
The inquiry is expected to proceed in early 2024, and it will undoubtedly be a pivotal moment for the Australian grocery industry. It will not only scrutinise the pricing strategies and the rise in the cost of essential items but will also examine the impact of the Coles-Woolworths duopoly on food prices. You can read more about that here.
In response to the video and the ensuing public discourse, a Coles spokesperson emphasised that the supermarket regularly offers promotions and specials, particularly in their health and beauty aisles.
They stated: 'At a time when cost of living pressures are mounting for many customers, Coles is committed to [helping] Australians with a range of value campaigns to support customers in tough economic circumstances.'
Coles has been promoting its 'Great Value, Hands Down' campaign, weekly specials, and the Flybuys program as part of its efforts to deliver value to Australian households.
The supermarket chain also highlighted its support for a network of over 8,000 suppliers and its role as an employer to more than 120,000 Australians.
Both Coles and Woolworths have confirmed that their Chief Executives, Leah Weckert and Brad Banducci, respectively, will appear before the inquiry.
Coles has stated that it has been 'working hard to keep prices affordable,' with Ms Weckert expressing readiness to engage in an informed discussion on supermarket pricing.
‘We have worked collaboratively with previous inquiries and are ready to work with the Committee and engage in an informed discussion on the factors that influence supermarket pricing,’ Ms Weckert said in a statement.
Similarly, Mr Banducci of Woolworths has acknowledged the cost of living pressures and welcomed the opportunity to explain the supermarket's efforts to balance various needs in the face of inflation.
‘We welcome the opportunity to explain to the senate how we are working to balance the needs of our customers, our team and our suppliers in the context of economy-wide inflationary pressure,’ he said.
‘As we have done at several inquiries this year, we will openly and constructively assist the parliament with its work on this important topic.’
As the inquiry looms, the Greens, with the support of Labor, have been vocal in their criticism of the supermarket giants.
Greens Economic Justice Spokesman Senator Nick McKim has called for an end to the duopoly, accusing Coles and Woolworths of making billions in profits by price gouging during a cost of living crisis.
This comes after reports that Coles’ price inflation was just 3.1 per cent for the July to September quarter, significantly lower than the national inflation rate of 7.2 per cent, according to the Australian Bureau of Statistics (ABS).
As we await the findings of the inquiry, it's important for consumers to remain vigilant and informed about the pricing practices of supermarkets.
You can watch the couple’s full video below:
Source: TikTok/@ellaxthezoo
What do you think of this story? Let us know in the comments below!
With the cost of living on the rise, these ‘changes’ have sparked a conversation about the pricing strategies of major grocery chains.
The story starts with a couple filming their experience walking through a Coles store, noting an unusual number of markdowns.
The video, which quickly circulated online, showcased aisle after aisle adorned with yellow markdown tickets, suggesting a store-wide discounting spree.
The woman in the video can be heard expressing her disbelief, 'This is actually insane. As if this is normal. This is not normal.'
Another person commented: 'So funny watching Coles publicly sh**ting their pants.'
The shopper described the scene as ‘crazy’ because every aisle had a yellow ticket. Image: TikTok/@ellaxthezoo
The footage has prompted discussions among shoppers over whether this is a genuine attempt by Coles to offer relief to consumers or a strategic move to mitigate negative perceptions ahead of the inquiry.
The inquiry itself was announced after widespread criticism of Coles and Woolworths, as both supermarkets reported significant profits amidst Australians grappling with soaring inflation, rent hikes, and interest rate increases.
The inquiry is expected to proceed in early 2024, and it will undoubtedly be a pivotal moment for the Australian grocery industry. It will not only scrutinise the pricing strategies and the rise in the cost of essential items but will also examine the impact of the Coles-Woolworths duopoly on food prices. You can read more about that here.
In response to the video and the ensuing public discourse, a Coles spokesperson emphasised that the supermarket regularly offers promotions and specials, particularly in their health and beauty aisles.
They stated: 'At a time when cost of living pressures are mounting for many customers, Coles is committed to [helping] Australians with a range of value campaigns to support customers in tough economic circumstances.'
Coles has been promoting its 'Great Value, Hands Down' campaign, weekly specials, and the Flybuys program as part of its efforts to deliver value to Australian households.
The supermarket chain also highlighted its support for a network of over 8,000 suppliers and its role as an employer to more than 120,000 Australians.
Both Coles and Woolworths have confirmed that their Chief Executives, Leah Weckert and Brad Banducci, respectively, will appear before the inquiry.
Coles has stated that it has been 'working hard to keep prices affordable,' with Ms Weckert expressing readiness to engage in an informed discussion on supermarket pricing.
‘We have worked collaboratively with previous inquiries and are ready to work with the Committee and engage in an informed discussion on the factors that influence supermarket pricing,’ Ms Weckert said in a statement.
Similarly, Mr Banducci of Woolworths has acknowledged the cost of living pressures and welcomed the opportunity to explain the supermarket's efforts to balance various needs in the face of inflation.
‘We welcome the opportunity to explain to the senate how we are working to balance the needs of our customers, our team and our suppliers in the context of economy-wide inflationary pressure,’ he said.
‘As we have done at several inquiries this year, we will openly and constructively assist the parliament with its work on this important topic.’
As the inquiry looms, the Greens, with the support of Labor, have been vocal in their criticism of the supermarket giants.
Greens Economic Justice Spokesman Senator Nick McKim has called for an end to the duopoly, accusing Coles and Woolworths of making billions in profits by price gouging during a cost of living crisis.
This comes after reports that Coles’ price inflation was just 3.1 per cent for the July to September quarter, significantly lower than the national inflation rate of 7.2 per cent, according to the Australian Bureau of Statistics (ABS).
As we await the findings of the inquiry, it's important for consumers to remain vigilant and informed about the pricing practices of supermarkets.
You can watch the couple’s full video below:
Source: TikTok/@ellaxthezoo
What do you think of this story? Let us know in the comments below!
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i’ll try anything once.
Bi carb
actually just thinking that’s a bloody good idea with the stockings.thanks.meow.
