Australian consumers are concerned over the potential effects that recent changes to supermarket ownership will have on product prices.
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The grocery sector is often blasted for its narrow base, and until recently Woolworths and Coles Myer dominated the scene with 35.5% and 25.8% market shares respectively.
Despite the vocal concerns of the Australian Competition & Consumer Commission (ACCC) however, these shares have increased with the May-June carve-up of the beleaguered Franklin’s chain. Between them, Woolworths and Coles Myer now control around 75% of the market, generated from individual shares of 41% and 32.9% respectively.
Independent grocers have warned that Woolworths’ dominance will inevitably lead to price hikes as shoppers have little choice in where they get their groceries. The ACCC said that it cannot prevent price rises.
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By GlobalData
