Woolworths and Coles to go head to head in cost-cutting war as prices of over 1,000 grocery items are slashed

Aussie shoppers tin expect to wage little for their adjacent market store as Woolworths and Coles slash the prices of a combined 1,000 items. 

On Monday, Woolworths announced it volition reduce prices connected hundreds of mundane items by astir 10 per cent - with the promotion acceptable to past until 2026. 

The discounted products see staples specified arsenic bread, bacon, sausage rolls, Coca-Cola, chickenhearted schnitzel, Greek yogurt, rice, oats and frozen berries.

Woolworths estimates that customers spending astir $150 a week could save an mean of $15 connected their market shop.

The terms simplification volition travel into effect from Wednesday and volition interaction prices for those who store successful store and online. 

Woolworths Group CEO Amanda Bardwell acknowledged that cost of living remained a large contented for Australian shoppers. 

'Customers consistently archer america they request much worth from their shop, and that they expect america to bash much to help,' she said. 

'This isn't conscionable a short-term promotion; it's astir little support prices connected the products we cognize customers regularly store for, and providing genuine, lasting and dependable worth they tin number on.

'We are committed to expanding the Lower Shelf Price merchandise database successful the coming weeks and months to assistance supply customers with adjacent much worth each clip they store with us.'

Coles has besides unveiled its ain terms reductions, announcing cuts connected much than 680 products with shoppers to receive an mean discount of 21 per cent.

The terms savings volition use crossed a wide scope of categories, including meat, seafood, pantry staples, bakery items, frozen foods, and more.

Like Woolworths, Coles plans to expand the database implicit time, adding adjacent much discounted items successful the coming months, successful invited quality for shoppers. 

It comes following allegations by the Australian Competition and Consumer Commission (ACCC) that Coles and Woolworths mislead customers connected pricing.  

The ACCC undertook a 12 period inquiry, which looked into ways to amended contention successful the supermarket sector. 

One of the inquiry's main recommendations was for supermarkets to supply clearer, much accessible accusation to shoppers.

'Through clearer income tickets and promotions, consumers volition beryllium amended placed to marque much informed decisions astir what products connection the champion worth for them astatine the checkout,' said ACCC Deputy Chair Mick Keogh.

The enquiry besides raised concerns astir shrinkflation, wherever the size of a merchandise is reduced but the terms stays the aforesaid oregon adjacent increases.

To code this, the ACCC recommends supermarkets beryllium required to notify customers erstwhile shrinkflation occurs.

'This accusation would, astatine a minimum, beryllium required to beryllium published successful proximity to the merchandise summons connected shelves, and connected the webpage for the product,' Mr Keogh said.

'By giving consumers this transparency implicit what are efficaciously terms increases, consumers would beryllium amended capable to 'vote with their feet' and power to cheaper alternatives if that is their preference.'