IGA operator Metcash is facing tougher supermarket regulations and battling to win over price-conscious shoppers amid an 15.5 per cent uptick in private-label sales.
The chief executive of IGA operator Metcash has questioned the high penalties proposed under a revamped mandatory code of conduct, which he said would not directly result in lower shelf prices for consumers who are shopping around to get value for money.made by Dr Craig Emerson’s review of the food and grocery code of conduct, which would see supermarkets face maximum penalties of 10 per cent of annual turnover for significant breaches of the code.
“Coles has worked collaboratively with Dr Emerson in his review to strengthen the Code. We will consider the final recommendations and government’s response in detail, and we remain committed to supporting a healthy and sustainable grocery sector,” it said in a statement. Consumers are buying items on discounts and promotions more frequently, with chief executive Doug Jones adding that Metcash’s medium- and large-format stores were continuing to“We don’t talk about the actual price gap, but it is very low now. I would argue that it would be almost unnoticeable,” said Jones.
Metcash’s private-label brands, Black & Gold and Community Co, make up less than 10 per cent of its total supermarket sales, lower than Coles and Woolworths, where private labels make up about 30 per cent and 21.4 per cent of sales, respectively. Coles chief Leah Weckert has noticed customers flocking to Aldi, and the company isMetcash said total group revenue rose 0.7 per cent to $15.9 billion, but underlying earnings slid 0.9 per cent to $496.3 million.
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