Coles has slashed prices on over 300 products, spanning categories like meat, deli, seafood, health, beauty, and baby items, both in-store and online. This decision coincides with the government's announcement of a review into whether major Australian supermarket chains, including Coles and Woolworths, are failing to pass on reduced costs to consumers. Prime Minister Anthony Albanese cautioned that federal intervention is a potential outcome if supermarkets don't ensure fair pricing practices from farmers to shoppers.
Among the highlighted reductions are lamb loin chops at their lowest price in four years, priced at $16/kilo for the next two weeks, and lamb cutlets dropping to $29/kilo until January 23. Coles aims to support Australian families during the entertaining season, school holidays, and back-to-school period with these price cuts.
This move follows ongoing criticism directed at Coles and Woolworths for alleged shortcomings in passing on lower prices and providing fair compensation to farmers. The government's review of the Food and Grocery Code of Conduct, led by former federal minister Craig Emerson, is part of an effort to address these concerns.
Coles Executive General Manager Fresh, Andy Mossop, emphasized the commitment to delivering value to customers, acknowledging the heightened demand for lower prices and immediate value. Beyond meat products, the price reductions extend to various items, including fruits like avocados, rockmelons, and watermelons, as well as breakfast and lunch staples and cleaning products. In summary, Coles' initiative aims to alleviate concerns about the cost of living and pricing transparency in the supermarket industry.
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