In a year that has seen Australians grapple with the escalating cost of living, the Australian National University (ANU) has revealed a term that encapsulates the nation's economic angst. The Word of the Year for 2024, 'Colesworth', is more than just a clever portmanteau; it's a reflection of the collective frustration felt by millions of Australians as they confront the reality of surging grocery bills.


The term 'Colesworth' ingeniously merges the names of the country's supermarket behemoths, Coles and Woolworths, and has become a buzzword on social media, symbolising the public's ire over the perceived duopoly's pricing strategies. The phrase has been adopted by disgruntled shoppers who lament their shrinking wallets and the growing cost of quality food. 'We are tired of paying such high prices for just quality food from ColesWorth,' one social media user lamented, while another exclaimed, 'Colesworth is ruining my life!'


Senior Researcher at the ANU's National Dictionary Centre, Mark Gwynn, noted that 'Colesworth' has been in use for several years but has recently surged in popularity. 'Aussies walk out of the supermarket with less after paying more, but then hear news of massive profits in the supermarket sector,' Mr Gwynn observed. The term not only serves as a shorthand for referring to both supermarkets but also conveys the public's dissatisfaction with what many see as an unfair market dominance.


The spotlight on 'Colesworth' comes at a time when both Coles and Woolworths face significant legal challenges. Sydney-based firm GMP Law has initiated a lawsuit against the two giants, accusing them of deceptive sales practices. This follows separate actions by the Australian Competition and Consumer Commission (ACCC) for alleged breaches of Australian Consumer Law, where both supermarkets were accused of misleading consumers with deceptive discounting on numerous products.

The scrutiny intensified when the heads of Coles and Woolworths were summoned to a Senate inquiry into supermarket pricing earlier in the year. Data from the ACCC revealed a staggering 24 percent increase in the price of a basket of groceries in Australia from March 2019 to June 2024, further fuelling public frustration.

While 'Colesworth' took the top spot, other contenders for the Word of the Year included 'breaking', which gained traction following the performance of Aussie athlete Raygun at the Paris Olympics, 'climate trigger', 'ute tax', and 'YIMBY' (yes in my backyard). Last year, the word 'Matilda' was chosen following the outpouring of support for the Aussie women's football team during their world cup campaign.


The selection of 'Colesworth' as the Word of the Year is a stark reminder of the economic pressures facing Australians, particularly those over 60 who often live on fixed incomes. It's a call to action for consumers to be vigilant and for policymakers to address the concerns around market competition and pricing transparency.
As we navigate these challenging times, it's essential to stay informed and advocate for fair pricing and practices. Have you felt the pinch of 'Colesworth' in your own shopping experiences? Share your stories and tips for managing the cost of living in the comments below. Together, we can support each other through these trying economic times.