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Woolworths Calls On ACCC To Conduct a “Fact-Based” Inquiry into Supermarket Competition

By  |  May 22, 2024

Woolworths has urged the Australian Competition and Consumer Commission (ACCC) to undertake a “data-driven, fact-based” investigation into the supermarket sector. This appeal comes in the wake of intense scrutiny and allegations of price gouging, market power misuse, and threats of imprisonment against Woolworths’ CEO during a contentious Greens-led Senate inquiry.

The call for an ACCC inquiry follows the recent release of submissions by both Woolworths and Coles. These submissions, made public just weeks after the Senate’s final report on supermarket prices, assert that the supermarket sector remains highly competitive despite the allegations.

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The Senate inquiry, led by Senator Nick McKim, was marked by heated exchanges between executives and the inquiry chair. The inquiry’s final report was met with criticism from the government and included recommendations that the government be empowered to break up supermarkets through divestiture laws.

Woolworths’ request for an ACCC inquiry aims to address and clarify these allegations through rigorous data analysis, seeking to restore confidence in the supermarket sector’s competitive nature.

Source: The nightly