‘What could be more un-Australian than ripping us off?’: Coles and Woolworths were taken down by Reddit sleuths
As those in power at Coles and Woolworths are discovering, hell hath no fury like a bargain shopper scorned. Another lesson: Anything with the whiff of a good conspiracy moves at lightning speed on the internet.
The ACCC commenced separate proceedings in the Federal Court against Woolworths and Coles on Monday morning, alleging each supermarket sold supermarket stables at regular long-term prices (“for at least six months and in many cases for at least a year”), before pulling what used to be called ‘a swiftie’ on their customers.
After keeping pricing consistent for a given product, they would then jack up costs by at least 15% for a brief window – 22 days was one example – before declaring either a Woolworths ‘Prices Dropped’ or Coles ‘Down Down’ promotion, now offering the items at a price lower than the recent spike, but higher or exactly the same then the regular price shoppers had enjoyed for a year.
Special place in hell reserved for Woolies, Coles, & Qantas.
I’ve worked in this space for 20+years. The scenario outlined by the ACCC is a well-worn path to getting a price rise through with major retailers. It used to be 12-13 weeks to price establish before promotion. Seems 3 weeks is the new norm. It would not be hard to prove all you would need to look at is scan data at a SKU level to see it. The grocers out themselves with the data agency sales to suppliers. It’s all there can’t believe the ACCC has only now just discovered this. Wilful ignorance.
Totally agree with Obvious – why has it taken the ACCC so long to realise this issue existed?
@1eye jak
Are you for real? So supermarkets aren’t ripping everyone off? What kind of dystopia are you happy to live in… one where monopoly markets gouge as much as they like because they sell the most basic necessities such as food.
you’d have to be a moron to not know this was/is going on. its been going on for longer than since 2021 too.
its not just supermarkets doing it.
everyone jumped on the bandwagon and profits for big business have remined strong despite people being squeezed..why is that?..it HAS to be that their profits per item have increased, cos they arent selling more items.
As a person with super i get tired of the goverment telling ever one the supermarkets are ripping everyone off.
They are a publicly listed company and are entitled to make a profit, and 4 the size of both companies a billion dollar profit isnt that much, considering the amount of people they employ
The goverment needs to look at itself.
Try halving
Petrol tax
Beer tax
And stop wasting money on crap that wont pass the pub test
That’s so Australian it’s fuuny what weird alrternative reality do people live in job schemes work in other countries Australia adopts them the scam and ripoffs begin and please stop trying to say Woolworths and Coles are the only places Dont forget all 4 major banks, most Australia stores or companies i’ve worked for put at least 400% markup on everything specialists charging 250 for 10min consultancies, power cimpanies rather than pass on savings from renewable charge more and pay less then pay influencers 100,000 dollars to advertise when bo-one knows whom they are.
No one talks about the great Kirks Scandal, that went from $2.00 for a 10 pack of cans, to $15.00 and now hovers around the $7 to $9 on average. That’s a 750% price increase.
How about origin energy and other power companies
I find Coles are very high in prices, if they lower their products for fast sale the items are only lowered by 5-10 cents.
I went to Coles on the 22nd October and was going to buy day old bread, I changed my mind when I saw it had only been reduced by 5 cents.
Woolworths reduce their day old bread by $2.50 much better purchase.
Woolworths lower their prices by $4-$5 for a quick sale, especially in the meat department.
I think they also need to check out Drakes prices, I tried shopping their thinking it would be cheaper but I found for the same items it actually cost me more than at Coles and Woolworths