Governments are already engaged in shadow-boxing matches with the supermarkets, which can’t afford to stand flat-footed.
Before any of the six government-sponsored inquiries into supermarkets have been finished, and with some barely started, analysts have begun to assess the profit damage likely to be sustained by the two majors Woolworths and Coles.
The Prime Minister Anthony Albanese has backed away from the nuclear option of breaking up the supermarkets, but that still leaves plenty of room for punishment.the government’s noisy campaign is already damaging brand confidence and trust levels have deteriorated. And the barrage has already taken its toll, with Woolworths chief executive. .
The inquiries may find no smoking guns that point to profit gouging but as Macquarie equities suggest, practices such as high-low pricing or member pricing could come under pressure.
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