Coles & Woolies Scoop Shonky Award for Record Profits in Cost-of-living Crisis

Coles and Woolworths have found themselves in the spotlight, but not for the reasons they’d hope for – instead, it’s for being Shonky! 

If you’ve found yourself wondering, during your grocery shops, “Why is everything so damn expensive?” you are not alone. 

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The consumer advocacy group, Choice, has included the supermarkets in their annual list of Shonky award recipients, accusing the major supermarkets of “cashing in during a cost-of-living crisis” 

 According to Alan Kirkland, Choice’s chief executive, frequent price changes have made it challenging for consumers to determine if they are genuinely receiving discounts.

“Coles and Woolworths have both recorded over a billion dollars in profits this year and most people feel like they’re being fleeced,” says Kirkland. 

“In a nationally representative survey CHOICE conducted in September this year, more than 60% of shoppers believe the big two are making a lot of money from the price hikes, and less than 20% think Coles and Woolworths are doing enough to keep prices low.” 

A Choice survey showed that 88% of Australians are worried about the cost of food and groceries, up from 56% in January 2021. 

“Coles and Woolies have been promoting how they’re supposedly helping with the cost of living, all while recording huge profits,” adds Kirkland. “With some of their specials it may be hard to tell if you’re even getting a genuine discount. They are well and truly deserving of a Shonky Award.”

Both Coles and Woolworths have issued responses, stating their awareness of the pressure on Australian families due to cost-of-living increases. They highlighted various initiatives aimed at lowering prices and emphasized their commitment to investing in communities, supporting local businesses, and paying fair prices to suppliers.

“Coles and Woolies have been promoting how they’re supposedly helping with the cost of living, all while recording huge profits,” adds Kirkland. “With some of their specials it may be hard to tell if you’re even getting a genuine discount. They are well and truly deserving of a Shonky Award.”

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