Supermarket giant Woolworths faced a “challenging” March quarter, its chief executive has admitted, amid shifting spending by its inflation-weary shoppers and continued criticism over its price settings.
As shoppers tightened their belts, the grocery giant said it had experienced a “noticeable shift” in consumers’ behaviours since Christmas.
Sales across its New Zealand supermarket operations were more subdued, rising 1.4 per cent to $AU1.9bn. Outgoing Woolworths chief Brad Banducci said consumer sentiment in Australia and New Zealand has been weak for some time, with customers facing elevated living costs. “However, we are well positioned to manage this more challenging environment through an ongoing focus on our customers and team, and our end-to-end productivity plan.”
“Our measure of food inflation is now below food consumer price inflation in both Australia and New Zealand,” he said.
Big W Food Consumer Price Consumer Sentiment Food Business Business-To-Business Segment Supermarket Prices Supermarket Inquiry Consumer Behaviour Jail Time Leah Weckert Supermarket Operations Supermarket Giant Heightened Consumer Caution Consumer Price Inflation Nick Mckim Supermarket Segment Endeavour Group Dan Murphy Price Settings Shelf Prices Australia And New Zealand Price Gouging Spending Slowdown Inflation-Crunched Consumers Holiday Period Australian Food Division Single Digit Range End-To-End Productivity Plan Woolworths Limited Brad Banducci Food Inflation Newswire-Business Profit Measure Food Prices Andrew Clennell
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