Australia’s second-largest supermarket chain is readying for a Christmas spent at home – but its first-quarter results have undershot expectations.
Coles shoppers are choosing sparkling wine, prosecco and rosé over champagne, swap craft beer for mainstream brands, and pick up premixed drinks over spirits as it increases its budget-friendly options ahead of Christmas amid rising cost-of-living pressures.
“We’re very proactively doing things like reducing the cost of ham versus last year and finding really great value options, so customers can balance their budget. That’s a huge focus area for us at the moment,” she said on Thursday morning. In-store Liquorland sales revenue growth was reasonably steady at 1.8 per cent, but it was a different story online, where people are increasingly buying food and drinks: ecommerce liquor sales soared 32.2 per cent, accompanied by a 24.6 per cent growth in online grocery shopping.
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