The Huge Problem with Australia's Supermarkets | Greg Jericho and Matt Grudnoff
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- čas přidán 14. 04. 2024
- "Australia's supermarket sector is a duopoly, a situation where you've got two dominant firms. Less competition means higher prices, and we've seen their margins increase over the last five years quite substantially."
Chief Economist Greg Jericho and Senior Economist Matt Grudnoff speaking at the Senate Select Committee on Supermarket Prices.
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It's not just the big supermarkets. It's the service stations. And the food manufacturers (not the farmers or growers). It's the chain stores such as Bunnings, Specsavers, and everything in between.
Bunnings got put in the too hard basket (for now) but the supermarkets own most servos.
It’s every sector. Arguably politics also
before the pandemic the airlines and qantas in particular bragged that their loyalty rewards program was the only part of the business to turn a profit.
By its very nature, a loyalty rewards program should be loss making. Or you are ripping someone off.
That fact is simple.
And this current trend of super market rewards programs is just the same. They think they are government and have the right to give with one hand and take with the other.
I worked for a medical company in the early 200s'a, the fad back then was to submit your contracted prices to hospital purchasing victoria, but then after the purchase, if any, there was this whole system of rebates and charge backs to reduce the price.
I am not sure exactly how it was a con, but o know its a con.
SAME WITH YOUR EVERY DAY REWARDS CARD at woolies.
Maybe its somehow avoiding tax, i have no idea how it works exactly other than what these guys mention as data harvesting. But maybe its time to fringe benefit tax all rewards programs an effectively stamp them out of existence.
Google is the most dangerous, they've made it impossible for small business to advertise wiping everybody out so the big companies can take over
They want to make money and you want to save money. Screw them, stop buying anything from the large outlets for a few weeks and see what happens to prices. They really will be down, down, down, and so will their profits.
Woolworths chief executive, Brad Banducci, is being threatened with being held in contempt for refusing to answer a direct and reasonable question from Nick McKim. Banducci should be made an example of and hung out to dry, the Senate inquiry really needs to show the public that this is not just a stunt but a genuine attempt to reign in the supermarkets.
@JohnH1 so in you say things that should not other organisations that get pulled into the senate. Like the SBC should they also get the same treatment as they all refuse to answer questions
@@kellyduncan4810One of the things that get on my goat is when people are brought in front of a Senate Committee and when asked a question can't or won't answer. Many times with the response I'll take that on notice. Or in this case waffle on with total nonsense.
These people know full well why they are appearing before a Senate Committee yet they are never prepared, they always seem to forget or don't have the information at hand. So yes people who front the Committee need to come prepared or face the consequences.
Nick McKim has six investment properties and doesn't mind making a quid imagine his carbon footprint what a hypocrite
@@trevorbramich4849Parliament is NOT a Senate inquiry...numnut.
DUDE!!!!!!! YOU ARE DELUSIONAL AND HEREBY DECLARED CLINICALLY INSANE!!!!!! :D :D
An Overview of Return on Investment and Return on Equity
While ROE calculates the percentage return on invested equity, ROI calculates the percentage return on investment. In other words, ROE assesses an investment's "efficiency," but ROI measures its "profitability."
THE GREENS (COMMUNIST) SENATOR ASKED A DELUSIONAL QUESTION!!!!!!!!!! ALSO, COMPARING THE """"EFFICIENCY"""" OF BANKS, TO AN ENTIRELY DIFFERENT INDUSTRY / MARKET IS DELUSIONAL!!!!!!!!!!!!!!!!! :D :D
IT IS SIMILAR TO BASIC ALGEBRA!!!!!! COMPARING LIKE TERMS TO LIKE TERMS!!!!!!!! DO """"NOT"""" COMPARE UNLIKE TERMS TO UNLIKE TERMS!!!!!!! COMPARING AN APPLE TO AN ORANGE IS DELUSIONAL!!!!!!!! ONE MUST ONLY COMPARE AN APPLE TO A DIFFERENT APPLE!!!!!!! OR AN ORANGE TO A DIFFERENT ORANGE!!!!!!!!! :D :D
This is the only common sense logical discussion I've heard on the topic so far. Every Australian can sense the dwindling options available in the economy. Unfortunately both parties have been bought off by big business lobbyists.
I am so grateful to The Australia Institute and the Senate for taking on this problem in Australia. Financially, my husband and I are barely keeping our heads above water, and we have two small children to provide for.
The problem is they have a duopoly and no morals.
A DUOPOLY for Supermarkets and a DUOPOLY for Government is the issue with Australia!
I'm actually a bit surprised that Australian competition law doesn't already contain divestiture powers. That seems like a major part of the toolkit is missing.
We need laws like the Claytons Act the USA has.
Really surprised? ...That corporations have 'accidentally' slaved Australians ... I always wondered why lobbyists lined up at parliament house, and no one is allowed to know their names or where there from ... just a mystery.
We had a referendum on it in the early 1900's, Australians were just as smart are now.
The laws stop this kind of monopoly happening only if it has not already.
They already have a monopoly, so, no laws that stops them, or to rein them in.
AND the government knows it, but won't legislate to change it either. - ?
Serving the people/democracy... I don't think so.
Why do you think we have, essentially, a two party system.
It's like piggy in the middle except, we are the armless, legless, voiceless piggies.
Legislation
Legislation
Legislation...
And We The People need to see very clearly that said legislation is more than adequate, more than appropriate to serve the populace truly and purposefully.
As someone who is a supplier to both majors, please REMOVE REBATES. The rebate system is essentially a hidden tax and gouge by major supermarkets with rates charged at their discretion and creates an unfair balance in competition. One supplier may have a 2% rebate and the next may have a 5% rebate within the same category. This in turn doesn’t allow the free hand of the market to operate and skews supplier efficiency. Aldi do not charge a rebate to their suppliers whilst Coles, WW and Metcash do. Make rebates imposed by companies above a certain turnover illegal. It will immediately increase competition.
What is a rebate
@@user-ri7zn9wv9w When suppliers sell them with goods they are essentially forced to pay a rebate to the supermarket. This is a percentage fee based on the cost of the goods. Example They buy a product for $25 but attach a 4% rebate. They essentially get the item for $24. This isn’t factored into their margins it’s classed as “warehousing” or voluntary.
Basic economics that used to be accepted as fact, duopolies and monopolies are bad for the consumer, and the suppliers. Why have we forgotten this fact that we have known for centuries?
Better prices for farmers….I don;t mind paying more if it goes to farmers but I do object to paying more to go to the coffers of the supermarket chains.
Not all the farmers are innocent there's a farm in Adelaide that doesn't pay the backpackers only gives them food and shelter for an extremely hard 8 hour day who sells to Woolworths
@@James-kv6kb Sounds like voluntary slavery.
@@sandponics No just very deceptive farmers who don't explain the isolation of the place and the working conditions
@@sandponics I'm assuming you're a Woolworths robot lol
the more you pay the more profit they make they are not going to stop screwing the farmer like they are not going to stop screwing us the rich get richer off the poor's back
Really appreciate you sharing this! It's great to see it first hand and not just 'bits' from the news.
Albo and Chalmers need to listen!!!
They are listening. To their donors.
You bet they need to listen and nothing will happen
Why is Chalmers going again to America to get approval for Our Budget
Get the Power Companies and Fossil Fuel Monopolies into a Public Hearing. The greedy side of big Business.
Banks as well 👍
Realestate feudals
@@user-tb9yp8rr5w Include the Banks there greedy too.
At 34:35, Louise completely has missed what was going to be a great point by the Australia Institute about ABS tracking industry competition fluctuations more closely in order to direct better policy. Railroaded him and starts talking about her data, anf 10 dollars she gets back. she missed the point completely and interrupted.
I agree....The guys from the Australian Institute is right we need a committee to stop price gourging....she seemed unneccesary worried for a Senator which makes no sense.
@@manishajayawardane7635 Was it me or did she struggle to put meaningful sentences together?
Coles and woolies are both listed on the ASX. Both are run for profit to benefit shareholders and the more profits = higher shareholder returns which in turn gives the CEO greater renumerations. Why would they care about their customers when they have these profit goals to reach. I call it a huge conflict of interest, A company can not achieve both results. Profits over customers is what we are stuck with. It needs to change.
Right, they just want their "huge" profits. Except they only make 2.6% profit lol.
@@Jonesy1701 You really need to get out more. Coles made a profit of $1.1 billion last year. All from overcharging customers and suppliers. Woolworths attained a profit of $1.72 billion dollars. Percentages mean very little when faced with overcharging customers and suppliers.
@@waitawhileexplorer3904 How did they overcharge? If I buy goods for $9.74, and sell them for $10, that would be considered overcharging to you? Have you had a lobotomy? Coles did make $1.1b, sure, but that is after forking out $39.6 BILLION in expenses. They only kept 2.6%. 80% of which goes to shareholders. Percentages mean EVERYTHING, not the dollar figure, as that depends on the size of the business. To me, getting $1b would be life changing, to a national company operating nearly 2,000 sites supplier essentials to an entire country, not so much. $1b is kinda what you'd expect. Also, where did you get Woolworth's profit figure? Because it's not $1.72b, it was $1.63b.
When did government stop serving the people?
Good legislation is government responsibility... Good for the people that is!
Has the meaning of 'democracy' changed...
Or, the very reason it came to bare in our world.
Is that a serious question? Oh I see. You believe the government actually cares about you. That’s cute.
I'm not sure when it happened but the pendulum for Government has definitely swung over to benefit corporations over people. Labor and LNP both suffer from this.
The government's have only ever looked after themselves the wealthy people that vote then in then there's the trickle down effect
Governments stopped serving people 10,000 years ago, but people have been to dumb to spot that.
@@shiner8375
LMFAO...
Love your wit!
Touche'!
The supermarkets have continued to creep price higher as well as using shrinkflation
By shrinkflation are you referring to the diminishing volume of product inside packaging and/or the diminishing size of packaging itself?
Yes that's what they'll do next reduce the prices but reduce the quantity
@@James-kv6kb now that it occurs to me, when I was a kid, I'm pretty sure there were other supermarkett franchises like Franklins, Permewans, 4-Square. Black & Gold and probably others that I can't remember. How did we end up with a duopoly (excluding IGL and Aldi which are much smaller franchises)? Did all that "consolidation" occur prior to 1995 when the ACCC was founded? Now that we have a proliferation of "Convenience Stores", should the Big 2 be classified as "inconvenience stores"?
@@user-gp7jl8mm2f I remember small businesses everywhere, you could buy fruit along the highway local green grocers that looked after the customers. but the corporations have taken over everything and where the ones worse off. Sadly people are quite stupid ,give them a slick ad with Woolworths the fresh food people and they all abandon the local community businesses
And consumers continue to buy their shit.
shareholders profits that's bottom line, they couldn't give a shit about their customers.
if coles and Woolworth took 15% off everything in their stores right now ,they would still make over a billion dollars in profits, exception of shareholders prevents that happening
Vanguard and Blackrock are two of the largest shareholders of Woolworths. Woolworths is not an Australian company.
Source for Vanguard Group? I couldn't see them on the substantial shareholders list on Woolworth's annual report. But anyway, BlackRock Group only have a 6.65% stake in Woolworths Group. And Vanguard has a 4.99% stake in Coles Group. So to you, a 5% ownership makes it unAustralian?
the problem is government allowed 2 companies to take over the entire market, so no competition left.
Many shopping centres have the likes of ALDI, independent grocery stores, independent butchers, reject shop etc. For some reason people still just go to Coles and Woolies and do their entire shop when there are cheaper options 10 metres away.
@@Luke-wz9wc "convenience"
@@Luke-wz9wc I start at Aldi and pick up the rest Colesworth that Aldi dont stock..
Nice discussions
haha the size and population being harder to make a profit! eat that coles CEO. Nice throw in there
Coles CEO looks like a Next GEN movie Villain
This is soo frustrating. I really really hope this doesnt just go away
The big 2 Supermarkets bullied the major 2 bread suppliers into paying less than it costs an item to be produced. Example, 1 loaf of homebrand bread costs 16 cents to make, the Supermarkets come in and said theyd only pay 14 cents a loaf, otherwise we'll take our business elsewhere. Thats why we saw a rise in the brand name breads like Helgas for instance. Not long after this, there were massive lay offs at these bread baking plants, quantity went out the window and that showed in the final product. Farmers aren't the only ones veing screwed by corporate fat cats and shareholders
Next a review into land banking and the corporations on stock exchange like Stockland and Mirvac that drip feed their land creating demand and increases prices. These corporations own currently over $20 billion in residential land holding release back. It’s a ponzi scheme that caused the current housing crisis. Now they expect government to use taxpayers money to provide homes while they have made astronomical profits. Other first world countries have laws that prevent land banking by heavily taxing land owners for property that has not been built on after 2 years of purchase.
Cooperative food chain like in Europe would work very well in Australia. The farmers themselves can actually be part of the cooperative. More food markets especially in suburbs will be good.
The problem here is because Australia is so huge often the farm is is a long way from where the people are
Just grow your own in your backyard, and if you don't have a backyard, get one.
How good would Australia be if instead of helping America pay for their Proxy wars around the world
The government looked after their Own People
Brilliant
the government should create a metadata file similar to medicare/health services that is the property of the account holder with a huge checklist of retailers with rewards programs to select which ones they want and then set a price on metadata that is comparable to the international price and a checklist of the advertising sites that can buy the data and which ones you are okay with selling to. then the government also makes the social media websites operate using this system and they can also list themselves as an advertising site but have to pay you for your metadata.
if they did that, then the Australian government will have not only done a world first but also ensured the digital safety of Australians.
It’s in their name “super market “
Super for who, you or them?
What about price remaining neutral for smaller quantities or packaging
Thanks team 🎉 ❤
so why is this not a royal commission rather than a faction based attack on private enterprise? I have not found food cost to be significant in my cost of living compared to Rates, taxes, Health and Insurance. We should not discount the simple fact that shoppers go where it is easiest to get groceries locally . Just like housing there is a massive difference between supply and demand of available land. In Brisbane there are some suburbs where available small and large shopping precincts are sparse and others like Capalaba or the newer subdivisions where there is plenty of commercial land available so competition is much higher and prices are lower..
Why drag the royals into this, aren't they rich enough already?
Another waste of taxpayers money nothing ever happens in the end eg: robo debt
Nothing ever happens but they got rid of robo debt
The reason you pay tax is so that the politicians can waste it while trying to slow down economic development, so that they can buy multiple houses, become landlords like Albo is, and rip off tenants. This then causes inflation, so that the value of the politicians houses increases. But most people are too dumb to figure this out.
@@sandponics what an absolute load of Google sheep bulshit
@@sandponics nothing about the thousands of Chinese buying up properties and leaving them empty? Nothing about the greedy overseas landlords who were charging ridiculous amounts of rent for the hovels that they rent out
When did these companies get confused and think they should be growing like a start-up? They are supposed to provide stable dividends. Not be volatile.
You keep on buying their shit.
@@sandponics that has nothing to do with what I said.
can someone tell me what the powers are?
Ive had it at full volume with my head pressed to the speaker.
Devestager powers?
Closed captions says devesta jows so that's not it.
Just want to read into the powers they are looking to give the ACCC and form my own opinion on if they would help or not.
But can't figure out what they are saying and many google attempts later its not helping either.
Forced selling to create a more competitive market
@@rosieposie5241 thanks for the reply! But I wanted to look into it in more depth. Does it mean the stores ceases trading immediately, who gets the proceeds for the sale, is it a store by store basis or suburb or cirt or state, what grounds are required to force the sale etc
The word is divestiture. the action or process of selling off subsidiary business interests or investments.
"the divestiture of state-owned assets"
Hope that helps mate. 👍🏽
@@nathanmccauley6813It means different things, but the approach here would be to break up Coles and Woolworths, allowing them to retain some retail areas, but forcing them to give up others.
The idea would be that new competition will buy up those divested retail sections..As an example maybe we get a move back to Butchers, bakers and Dairy businesses..Like we had back in the day.
More people could participate in the retail sector, establish their place in the market, and be able to be sure that Coles or Woolworths will not be able to out price them to squeeze them out..
@@zorankp thanks mate! Haven't heard the word before and really interested how far the ACCC would be able to take it! So far seem like the best way to get monopolies duopolies etc back in line
When you have the mainstream media making huge profits from advertising by these giants,Coles, Woolworths and Bunnings, it is no surprise we don't hear more about price gouging.
The problem is also convenience. Break up these 3 and we will see staples like meat, dairy, bread and fruit and veg, go back to individual stores. Like we had before the advent of the 'mart' concept.
Yes prices will go down. And I bet quality will most likely go up. But us as consumers will sacrifice convenience of a one stop shop.
Buy from local stores, my butcher is nearly half price and the fruit and veg is a little cheaper at the grocer, 2brothersfood is a great alternative as well, but it's an online store.
Coming from the industry I know the extra profit margins the big 2 ask for, though what we do need to be careful about when talking competition is that companies like ALDI are not Australian owned. I suggest you would find that most Australian's have Coles & Woolies shares in their superannuation portfolio, so whilst they operate with high profit margins at least a large % of the money stays in Australia.
We need to find a balance that supports pricing and profit margins but keeps the money in Australia, especially with so much of the money already going overseas where so many of the products and components on sale are manufactured.
I wonder when we can have the RayWhite, Meriton, and other feudals over here
In Adelaide Woolworths is sourcing herbs from a backpackers farm that doesn't pay the backpackers only give them food a lodgings often working in 40 + degree temperatures then having to package the herbs in a hot shed
If the backpackers want to do that, the farmer will let them. Who is the biggest idiot, the farmer or the backpackers, or you for buying the stuff instead of growing it yourself?
@@sandponics The owners do not tell the backpackers it's in the Adelaide Hills where the closest road is a an incredibly steep 3 km walk walk or the fact that there's no public transport anywhere near . They think that they're going to come and do the work and then be able to see the sights but they're not able to leave. As for your comment about me growing food well yes despite living on the edge of the South Australian desert on doing everything possible to grow my own produce despite climate change and many other challenges .
@@sandponics and I did not buy the produce myself I actually stayed at the farm. they also rent out the property to people that want to pitch a tent which I had to do due to the housing crisis which is how I found out about this scam they're pulling . Now obviously you work for Woolworths so how about you just f off lol
@@sandponics I think you've missed my point entirely the fact that Woolworths is dealing with unscrupulous people that deceive backpackers was my point. it doesn't matter who the idiot is it should be illegal and since when in this country has it become ok to take advantage of idiots ? Oh that's right we're run by Google Now
Report them to the wages commission.
Although perhaps outside the scope of this inquiry, does it deal with the gobbling up of small liquor retailers and/or the ownership by supermarkets of liqour franchises like BWS, Dan Murphy's, Liquorland etc etc and the virtual elimination of suburban butchers. Shouldn't there be parameters placed around the kinds of goods which supermarkets can sell? Finally, while I on a rant, is there actually any alternative competitor to Bunnings?
at the moment Bunnings is a monopoly, because Mitre10 attempting their push to larger stores failed. its been put in the "too hard for now" basket.
recommending divestiture laws is a good way to chip away a little bit at the supermarkets buying up the bottlos and servos.
Woolworths bakery cheesecakes contain palm oil aswell..
3% net profit margin for Coles and Woolworths. $3 every $100 in profit. I think that is very reasonable. 80% of profits in Coles' case goes back to shareholders, of which many Mums and Dads are direct shareholders, and many millions people will hold in their super funds. Both great companies - employ over 200 thousand people between them. Pay plenty of taxes.
How about we do an enquiry into the ~$12b black economy rather than wishing our successful business make less money.
The majority of Woolworths shareholders are foreign equity companies which include Vanguard and Blackrock. The mums and dads own bugger all in the scheme of things. Woolworths is not an Aussie company.
Agreed @marcoschena99. A side show to get the focus off politicians and the public are falling for it!!
How about focusing on Labor running out of control immigration & pushing up rents by 10% plus per annum.
Or why not have a crack at Apple charging 30% commission for every app.
Or the current Australian tax take at 29.5% of GDP.
And you might want to check the returns on Woolies shares. The share price closed at $32.07 on 24 April 2024. Go back 4 years and you'll find the share price closed at 24 Apr 2020 $31.70. You need to add on dividends but bugger all return really.
Coles is cracking down even more on suppliers now. It's driving me nuts. THEY are the ones that have played apart in this, not the suppliers.
Profiteering the scourge of this century !!!!!!!!!!!!!!!!!!!!
Where do these inquiries lead to?
We’re all well aware of past inquiries into a variety of establishments and organisations with little or no tangible results.
So although we are all aware of the current situation in the increasing costs of grocery stores, what can hopefully come from this?
I admit that it’s good to see select committees taking notice, what will be most interesting is the flow on efforts of this particular group.
Greed is not a term used by business when talking up their profits and returns to investors.
But like the Wall Street saga of 2008-09 where investment bankers by and large escaped with very little consequence is it likely that the duopoly of the big two supermarket chains will not be held accountable.
I’ve been shopping at Aldi for nearly 10 years and will not go to Woolworths and Cole’s people need to vote with the wallet and stop being lazy, but definitely Australian is all about monopoly business’s! Well done thank god we have people speaking up now
Aldi isn't much better. Once cheaper, they are now basically the same price.
Exactly if Australians are really annoyed with paying so much don't shop there .
@@MrFastFarmer I wasn’t talking about farmers but the consumer, if you can change where consumers shop the big companies will wake up, as long as people keep shopping at these supermarkets they won’t change there’s no need to. No ceo will put his hand up for less profits and less cost to consumer
@@danieldias8974 that’s true because something that isn’t talked about is people are still buying it. Someone has money and is buying it at higher prices. Inflation only exists because there is excess money.
@@MrFastFarmerI have been doing a bit of investigating on Woolies and Aldi. There are items that are far cheaper at Aldi. I shop at both. I’m retired so I can do this but if I was working full time it wouldn’t be as easy.
Allow people to freely sell products on the streets. That's what keeps big supermarkets in check in Asia.
What happened to CEO of Qantas did he get away with it
Ask Telstra,Optus,Banks,health funds,fuel stations,even buying a land from builder have gine up 100%.
when businesses forget their customers also work in government lol
Following the Supermarkets and Mr Emerson's Logic then all Stores should be Government owned or monopolised by a Non - Profit organisation that has all it's records open to the public giving us the absolute cheapest prices.
Suppliers should also bare some responsibility. Who would give up 30% or more of their supply to one channel?
Imagine if governments were put under the same level of scrutiny.
Thar would be interesting...but we the people could get this done as they work for us not the other way around.
One thing at a time....
$50 a kilo for scotch fillet, what a joke, the farmers are getting screwed and so are we.
There'll be no small farmers left soon
I buy pumpkin direct from our local farmer. He only gets 50c kg from wholesaler. I don't know what the wholesaler mark up is but by the time its at the supermarket, it's around $4 kg.
Coles & Woolies CEO's say you can shop at Aldi but Aldi sell very little Australian products personally I DON'T want to eat Chinese veg which has been grown in sewerage although Coles brand stuff can be just that although it says canned in New Zealand
This is what happened when you keep increasing the minimum wages! it doesn't make people better because the big guy would just increase the price on the back end and people have no where to go. But it makes small businesses harder to enter that would create much less competition! This leads to less innovation, fewer job opportunities, and ultimately hurts the economy as a whole.
the big corporation love higher minimum wages and more regulation! The more there are, the harder the barrier to entry.
This could easily be fixed by having a similar structure to personal tax, applied to company tax. Either by total profit or by creating a system based off market share.
Our wonderful proactive federal governments, past, had divestiture opportunities when Kaufland was looking to invest here, but, no just sat on their hands, and this company decided to leave.
If they won't give you the data, survey the vertical market for cost, from growers/manufacturers suppliers, manufacturers, wholesalers, retailers and buyers. Make educated assumptions and put it in their face.
The problem is the actual foot print of each store is MASSIVE, physically excluding other players..... And with each center they have 1, 2 and more massive shops. Maybe there should be a limit to each store so that each store is more, say "energy" efficient. Allowing for more smaller competitive stores/brands to entre each centre.
In the Sydney triangle from Newtown to Blakehurst to Punchbowl, there are 16 massive Wooloworths stores, of which Hurstville and Marrickville has 2 and 3 massive stores, respectively, in one suburb.
Of these 16 stores 13 of these massive stores are in local community centres with no hope of any competition entering, because Woolworths has smothered each of these centres/areas.
This does not include Coles, Aldi, IGA and the rest, that have done this in other areas that does not include a competitors. I haven't counted but there must be 100 massive stores ALONE!!! And they are all MASSIVE!!! I suggest by "design".
Because of their massive size they have rental power in these centres and call the shots with landlords.
The national, state and local planning laws should be altered to instigate and reduce the size of retail lots/tenants to an "efficient" more smaller size.
As has happened to the residential construction industry.
Outlaw "SUPERmarkets" and introduce "MIDImarkets".
Competitive free markets might help curb abuse of environment and wildlife also, when it comes to exploitation of natural resources.
We would have more power to boycott certain businesses who ignore ethics and conscience, and a sense of responsibility.
I’m surprised we don’t have a watchdog on abusive business practise in that area
Palm Oil is also present in their, “Go Natural,” health food snack products.?!?!?
Just here to boost the algorithm ❤
“…any thoughts on that.” Thats mostly what these economists are doing, guessing. It’s their thoughts. What an easy job they have.
Just because a store is in one spot doesn’t make it easy for a small business to buy it out and continue to make a profit.
They should use WA as a good model to study.
We are lucky to have Woollies and Coles here. It took years and years for Costco and Aldi willing to venture here. There’s reasons for that.
Why is there still no result from any of this ?
Meanwhile Woolworths have no problem using palm oil in their bakery section.
Coles cheesecakes don’t even bother to use recyclable plastic.
They’re obviously not making enough profit when they resort to these measures.
Conscience and ethics aside.This is business…law of the jungle.They need to survive somehow….😮
Looks like Corporatisation (like in the US) are here to stay. Like to see what we can really do.
A record number of businesses are going into bankruptcy, and everyone keeps for competition means lower prices, this is not always the case.
You would think that food growers would be raking it in, but sadly many are becoming unviable.
The world relied on cheap energy and consumer imports, along with wage suppression to keep inflation down.
things are produced based on a unit of energy and raw materials, human labour is a unit of energy, along with the cost of land or rent to house everything and the people.
Energy costs, rental or land costs, and insurance costs are sending manufacturing and retail to the edge of viability.
With the war in Ukraine, fertilizer costs are rising, and people want to ban gas, we need gas to produce the nitrogen that farmers need. Food insecurity is going to be a major world problem without fertilizer.
The central bank wants to reduce demand and suppress inflation, the government wants to supercharge immigration to inflate overall GDP and ramp up infrastructure projects, which increases inflation.
Forcing the population to switch to electric cars and tax those who dont will increase inflation.
Carbon tax on farmers and cow fart tax will increase inflation.
The rapid increase in interest rates actually pushed up inflation initially, some central Banks around the world have jacked up interest rates to double digits and still, inflation is up to 80%. Devaluation of currencies and increase in energy cost will do that, not overspending by poor people.
We need cheaper land to build, cheaper energy costs, reduced immigration and allow Australia to catch its breath.
A manopoly like butcher shops and hardware Bunnings is the biggest manopoly it’s a joke what has been allowed to happen in this country
Do not forget BUNNINGS.
You didn't have this problem about 30 to 40 years ago when there were lots of little green groceries and corner delis. It's because Coles and Woolworths own everything and have forced the small shops out of business. There needs to be more competition for these big companies so that they don't own everything and price gouge or be monitored by a special government department. Spread the wealth and don't get greedy for God's sake!
Matt - Coles Flybuys - $1 = 1 point. 2000 points = $10. Which is a rebate of 0.5%. Quite clear
67% of Australias population lives in the capital cities. When you have populations concentration, you then have business concentration. No-one wants to change, so nothing will.
So why is No-one talking about the Petrol Companies
Selling petrol at twice the price at the pump then what they are paying wholesale
But Coles and Woolies 🤦
Allow free street markets to open up not just Sunday markets.
It’s even more concentrated than New Zealand.
And Grocceries are even more expensive in NZ. I had a friend visit Australia from NZ late last year and she kept wanting to eat cucumber because they were too expensive to buy at their supermarkets.
Is this because of concern for citizens or another international group using the government to open a door into the food market in Australia? The entire Australian economy belongs to either a British, German, USA or Japanese corporations. Yes they register on Australian stock exchange because they also want the citizens’ capital as well as profits from selling to them with this capital and then take profits out of country and don’t pay taxes. How ridiculous that someone sit in a government chamber and have never heard of the word monopoly!!! OMG what has he heard before?
Won’t it be nice when Cole’s and Woolworths start charging heaps more in country towns, than city towns. Cairns for instance.
Why.
I am married with ten children three of school age still. Myself and my wife have had to leave the city buy very cheap land west of toowommba and raise goats, sheep, cattle, chickens, ducks, pigs to eat. grow our own fruit and veg. It was my only option. Once upon a time we could afford steak for us all now this is the only way we can all eat.
Keep talking about it but nothing happens
This is why i can't buy Golden Wok dim sims...because Marathon got the contract and you only buy those once personal opinion.
Good time to start a farm to plate company.
This interrupting senator sounds like she’s had a few glasses of wine (or 3) before this meeting. If I sounded this way at work, HR would be having a chat with me. Just saying
34:27
35:46
37:16
38:15
HR don't want you chatting to each other at work because you may then learn something to your benefit.
@@sandponics
Exactly. You got it.
Spot on what’s few wines to chill the nerves
The classical idea that competition lowers price is a fallacy. Demand is generally steady for these types of goods ie no reason for more!
The larger profit margins come from reducing staff numbers per outputs and implementing technology such as self serve and digital advertising to influence the consumer. Its complicated and it depends-a classical assumption is always false here…
Also the global supply chain cant handle more depend/competitors
Go after the banks and real estate dont worry Australia become like usa pay more for less and ACCC its all bs
Go get ‘em. Criminals all. Aussie Bob
Crooked government elites don’t fix anything.
Do something about it
What laws are there to hold them accountable???? these supermarkets have SLAVED! the Australian people... We have to eat!
We don't need more laws we need intelligent Australians to stop going to these places very simple go to aldi go to the local IGA
@@James-kv6kbnot that simple. Do not put blame on the consumer. Not everyone has an Aldi or an IGA nearby. Also the state in which I live doesn’t even have Aldi.
@@MelancholyPepper I think you've missed my point entirely
Competition should apply across all aspects of businesses, Banking, Insurance,Media, Markets,Transport etc. Monopolies is the Globalist Model
You mention the media but you don't mention Google ?
Too late farmers are giving up their business
Nothing that a Labor government with balls can't solve. But can we find one? I am constantly disappointed by the spinelessness of the Neo Liberal ALP.
Politicians are getting worse because they know there's no one coming through the ranks to take their job because everybody wants to be on tiktok getting attention not getting educated to become community leaders
They both rip us Off less talk MORE ACTION
You are all blinded by the rewards, points and discounts......
Not to mention getting adults to collect toys.
I wonder if the prices from the Big Pharma companies for medication would be included.
Christ its an anti-vaxxer lol
Only watched the first 5 minutes and nothing new.We all know supermarket tactics even before covid.If they are going to put the price up on an item first put it on special half the price of new price then a week later before you know it it's gone up.
Asking questions and getting answers not going to change anything.What can be done about it, absolutely nothing in a free market.
Supermarkets should not have shares in stick market, ie do nit make find a commodity, same as shelter.
I wonder if videos like this should be on the TV?
(They'd have their licence to air revoked, or not renewed!
I'd image government sphincters clenching so tightly you'd need a microscope just to see them.)
What the hell are you going on about ?
@@James-kv6kb
Media must renew their licence to air/print annually.
This keeps an extremely lucrative enterprise like journalism around the little finger of government.
Knowing that journalists reveal the truth about what's really going on in our world.
Why do you think 'government' is doing its best to silence Julian Assange?
Do you really think governments really want these types of issues being resolved when the Big Money is who funds them?
(or should that be 'runs them'?)
What you're watching is a good way to look like responsible govt., when appropriate legislation would fix the problem.
Hope this makes things a little more clearer James.
Kind regards,
Universal Sovereign Citizen.
P.S. thanks for being interested.
Hope you don't change this about yourself, it is after all, how we learn.
@@James-kv6kb
I replied, hope Tube allowed it.
We get one hour videos of the technicals and only 2 min videos of grilling of the bosses common CZcams do better.
There is competition from aldi, markets & smaller stores.
I suspect reducing thenl market share of Coles, & woolworths will actually cause higher prices. These large companies have small profit margins. They have economies of.scale
There's not real supermarket competition. The others don't have the range or quantity the Coles do and can't make the same deals with suppliers and shopping centres that coles/woollies can.
They "compete" with severe disadvantage.
Did you even watch the video?