Supermarkets Making Super Profits In Australia
Coles has some 8, 000 suppliers providing the supermarket lines they sell to their customers. Woolworths is in a similar situation re-numbers of suppliers. Supermarkets making super profits in Australia are hitting the news for all the wrong reasons. The nation is in the midst of a 2 year cost of living crisis with high inflation having stripped the savings from the working poor. A Four Corner’s expose shown on the ABC has shone a stark light on the state of play in our supermarket sector. Coles and Woolworths have some 65% of the grocery market share – this is a powerful duopoly, which puts all the advantages in their corner. Farmers supplying the duopoly are being squeezed into submission economically, as are many other suppliers of their grocery lines.
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