Australia’s two biggest supermarkets have been accused of misleading customers and bleeding their suppliers dry. Woolworths and Coles control 65 per cent of the grocery market and each reported profits of more than a billion dollars last year. As the cost of groceries pushes some families to breaking point, the duopoly is in the spotlight over claims they’re using their power to hike prices and pressure suppliers. Woolworths boss Brad Banducci walked out of a heated Four Corners interview while being grilled on whether there is enough competition in the Australian market. Banducci cited the likes of Coles, Aldi, independents and Amazon in arguing they operate in an “incredibly competitive market”
Australia’s two biggest supermarkets have been accused of misleading customers and bleeding their suppliers dry. Woolworths and Coles control 65 per cent of the grocery market and each reported profits of more than a billion dollars last year. As the cost of groceries pushes some families to breaking point, the duopoly is in the spotlight over claims they’re using their power to hike prices and pressure suppliers.
Woolworths boss Brad Banducci walked out of a heated Four Corners interview while being grilled on whether there is enough competition in the Australian market. Banducci cited the likes of Coles, Aldi, independents and Amazon in arguing they operate in an “incredibly competitive market
Supermarkets Misleading Customers Bleeding Suppliers Woolworths Coles Grocery Market Profits Prices Pressure Competition Australian Market
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