Coles' Discount Deception: ACCC's Crackdown on Fake Sales

0:00On March 3rd, here's the latest out of Sydney. The Australian competition and consumer commission case against Coles over false discounts has already hurt the supermarket giant's reputation big. Time, and Woolworths could face the same when his trial starts in April. Coles got caught artificially hiking prices before slashing them to look like bargains, misleading shoppers into thinking they were getting real. Deals, legal experts point out that even if the price drops were real, the tricks were planned months ahead as marketing stunts, not genuine sales. The big question is, how long prices need to stay high before discount counts as legit, with ideas floating around like four weeks or even 12. Weeks as a standard, shoppers and the public are fired up, with plenty of jokes circulating about Coles' specials going up and down like a yo-yo. If Coles loses, expect fines in the hundreds of millions of dollars, plus possible class actions for damages that hit consumers indirectly. This isn't just low-level stuff, it could drag in top executives and even board members

1:02for approving the schemes. Meanwhile, a win for the ACCC, my four stricter rules on grocery pricing across the board. Looking ahead, stores like Woolworths are shifting to digital price tags, which could lead to more flexible pricing based on demand, or even personalized rates using shopper data. In the end, the public might see clearer, fairer deals, even if fines get passed on a bit. Quick thanks to today's sponsor. See the description for more. No earbuds, no headbands, no awkward sleeping positions, just a pillow that plays your sound. S-O-L-L-I-SoliPillo.com