From the farm to supermarket shelves, we uncover why you’re paying more at the checkout exposing the secret tactics being used by supermarkets to keep the prices high - and the competition out.
Coles and Woolworths have reported record profits amid a rise in the cost of living - and while both deny price gouging, there are now six inquiries and reviews targeting the big two Australian supermarkets.
Reporter Angus Grigg interviews the CEOs of Coles and Woolworths, addressing concerns from frustrated customers.
Insiders say shoppers are the “ones that are getting screwed” as prices for basic household goods become higher and the profit margins of grocery stores become larger.
00:00: Intro - The super powers
3:24: The history of supermarkets
5:15: Coles and Woolworths
7:25: What the CEOs say
15:00: Power imbalance
18:10 What is ColesWorth?
19:04: Price matching
20:00: Insiders speak out
22:38: Price gouging?
27:50: The CEO walkout
32:00: Are specials really specials?
34:40: Dark stores
39:20: ‘Two Churches’ wine
41:55: Land banking
Read more about this story here: https://www.abc.net.au/news/2024-02-19/coles-woolworths-supermarket-prices-profit-four-corners/103469300
This episode was originally broadcast as ‘Super Power’ on 19 February 2024 on ABC TV and ABC iview.
Four Corners is Australia’s premier investigations documentary series.
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