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The Forum > Article Comments > Supermarket profiteering and price gouging > Comments

Supermarket profiteering and price gouging : Comments

By Guy Hallowes, published 17/5/2024

As a supplier, I have had extensive dealings with supermarkets and other chain stores in Britain, South Africa and Australia.

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The Albanese government attacks on supermarkets are just one of its tactics to distract from its own abysmal economic performance and general incompetence.
Posted by ttbn, Friday, 17 May 2024 9:02:07 AM
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According to this article, there doesn't appear to be a lot of profit in selling groceries; however, the CEOs of the two major supermarket chains earn in the range of $8 million to $10 million each per annum.
Posted by Francesca, Friday, 17 May 2024 9:15:36 AM
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Supermarkets are tricksters for profit!

Did the enquiry delve into that particular aspect of supermarket trading?

But in amongst the trickery on the shelf, are bargains. Itís a game of cat and mouse!
Posted by diver dan, Friday, 17 May 2024 9:25:36 AM
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"A lot of profit".

The only profit that counts is NET profit, which is 2%-3% on investment for supermarkets. Not many casual investors would be happy with that. And the supermarkets provide thousands of jobs.

Repeato Ditto. The Albanese slandering of supermarkets is just a distraction from his own funny business, which he doesn't air like he does with businesses providing a service much better than his government does.
Posted by ttbn, Friday, 17 May 2024 10:43:34 AM
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Francesca,
Whilst I maintain that such salaries are immoral they're not as immoral as the salaries of many bureaucrats who literally stifle commerce. At least these CEOs produce profits whereas the bureaucrats produce only empty coffers !
Posted by Indyvidual, Friday, 17 May 2024 10:58:44 AM
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The entire Australian Horticultural industry is corrupt. How do I know? Because I used to be a farmer.

I was involved in submissions to the the creation of a Mandatory Code of Practice, over the voluntary one. Nick Xenephon tried in the mid naughties with a Private Members Bill. It was killed by the supermarkets and agents. Then I stopped farming and lost interest.

Now there is a Mandatory one, but it appears to have no teeth e.g. the ACCC's one area it does not get involved with is "Disputes between Buyers and suppliers". That is the only area that matters, so is a charade.

Growers send produce to Agents in the central markets with no agreement on price. The Agents then sell it without needing to report to the grower on who bought it or for how much. The Agent sells it and then decides how much of that he wants to pay the grower.

Corrupt as fark.
Posted by Random, Monday, 20 May 2024 6:53:09 AM
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