Australia's Supermarket Industry Under Fire for Price Gouging and Misleading Discounts

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Consumer Rights,Supermarkets,Prices

The Australian Competition and Consumer Commission (ACCC) has released an interim report detailing concerns about Australia's supermarket industry, including soaring prices, lack of competition, and consumer distrust in discounts. The ACCC alleges major supermarkets like Coles and Woolworths are abusing their market power by increasing prices before offering misleading 'sales'.

Soaring prices at the checkout, a lack of competition and customers losing trust about specials and discount schemes. That’s the competition watchdog’s assessment of the state of Australia’s supermarket industry as it looks to make the weekly shop fairer for consumers.

“Many consumers have told us that they are losing trust in the sale price claims by supermarkets.”The supermarket inquiry received information from more than 21,000 customers, the most for a consumer survey done by the commission.

 

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