Watchdog’s report shows damning picture of lost faith in supermarkets [Video]

Australian shoppers are losing faith in the major supermarkets, saying they don’t trust price claims and struggle to compare for best value.

The ACCC’s supermarket inquiry interim report published today labelled supermarket retailing in Australia an “oligopoly”, with Woolworths and Coles accounting for 67 per cent of sales nationally.

Aldi had nine per cent of sales, and Metcash supplied independent supermarkets had seven per cent.

“We see Woolworths and Coles providing a broadly similar experience to customers through largely undifferentiated product ranges, pricing at similar levels and similar non-price offerings including loyalty programs,” ACCC deputy chair Mick Keogh said.

“Increasing grocery prices are one key contributor to the rising cost of living and are front of mind for consumers, given how often people shop at supermarkets and how much of their incomes people spend there.”

The price of a typical basket of groceries has increased …