WATCH LIVE: Woolworths boss Brad Banducci warned about answers, rejects suggestions it mistreats smaller operators; Senator accuses the supermarket of pushing suppliers to the wall. Follow updates here.
Brad Banducci has told the Senate inquiry the company has “a lot of work ahead” on lowering prices for consumers being hit on cost of living. Asked about costs at the check-out by Tasmanian independent Tammy Tyrrell, the Woolies chief executive says promoting low-price products is critical for his business. He has promised a material improvement on unit pricing in Woolworths stores from July. Businesses that sell groceries often show a unit price alongside the total selling price of a product.
Unit pricing is designed to help consumers compare prices and find the best value for money. “We already did it but I feel, maybe I am showing my age, but I can’t see it as well as I would like to and I think it’s really important. “You will see us doing much more on things like that. Clearly we need to do a better job of also calling out our everyday low prices, which gives certainty on essential items.
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