Shoppers can expect some hip-pocket reprieve this year, with Australia’s dominant supermarket chains Woolworths and Coles flagging price cuts in the USD88 billion food and grocery market.
After reporting "subdued" food and liquor trade in December and January and market-share loss in groceries, number one supermarket Woolworths plans to invest more than half a billion dollars on cutting prices and improving its stores.
"We want to make sure that we remain the market-leading food offer in Australia and to do that we’ve got to have the best prices, we’ve got have the best in-store service and we’ve got to have the best stores," Mr O’Brien said.
(Source: The Sydney Morning Herald Online )