Woolworths Faces Fake Discount Claims

0:00Woolworth is back in federal court, defending against claims of fake discounts on everyday supermarket items. The consumer watchdog, ACCC, says that giant hiked prices on 266 products over 20 months from late 2021 to mid-2023, then slapped on promotions like prices dropped that weren't real savings, often matching or beating original prices. This hit tens of millions of sales, with 12 key items like Tim Tam's family packs now under the spotlight. Earlier this year, rival coals already made its defense in the same case, and the judge is holding off on a ruling until both sides speak. No one's accusing them of teaming up or price fixing, just straight up misleading ads that trick shoppers into thinking they scored deals. Aussies are fired up because Woolworth and coals control about two-thirds of the grocery market, with 38 and 29% shares. Respectively, post-COVID inflation squeezed everyone, and reports call the sector an oligopoly where big players don't always compete hard on price.

1:03Shoppers fill the pinch, especially with probes labeling Aussie supermarkets, among the world's most profitable. Woolworth pushes back hard, saying they never deceived anyone, and worked with suppliers during that wild inflation to deliver value. They respect the ACCC, but stand by their programs. As another inflation way brews from global oil spikes, expect more heat on these giants, with new laws against excessive pricing kicking in by 20. 26. This has been Adelaide News Today, powered by AI. I'm Cory with the story.