The Australian Competition and Consumer Commission has wrapped up two weeks of public hearings into the practices of Australia's supermarkets. Here's some of what we learned.
Australia's two major supermarket brands came under scrutiny across two weeks of public hearings looking into the industry's practices. While the hearings, held as part of an Australian Competition and Consumer Commission inquiry looked at the sector as a whole, the two major players were a big focus. The ACCC is examining price-setting practices , retail competition, supply chain concerns and the profit margins of Australia's supermarkets.
While, Coles property manager Fiona Mackenzie revealed the company held 42 freehold sites across the country, with 17 not yet subject to development applications. A Woolworths spokesperson said it owned different sites for "different reasons", while a Coles representative said once the business identified gaps in the market, it could take up to seven years to procure a site and plan a development.
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