Coles reviews promotions as waste hits $10b

Original article by Sue Mitchell
The Australian Financial Review – Page: 15 & 18 : 30-May-19

Grocery giant Coles has conceded that it is still heavily reliant on price discounting as a key driver of sales growth rather than the ‘every day low prices’ model that it has been pursuing for a decade. Nielsen estimates that discounting costs Australian grocery retailers about $51m a year; this includes "wastage" of about $10.1bn on the discounting of goods that consumers would have bought at the full price. Coles intends to review its discounting strategy, with the aim of scaling it back over a period of time.

CORPORATES
COLES GROUP LIMITED – ASX COLCOLES SUPERMARKETS AUSTRALIA PTY LTDTHE NIELSEN COMPANY (AUSTRALIA) PTY LTDAUSTRALIAN FOOD AND GROCERY COUNCILWESFARMERS LIMITED – ASX WESWOOLWORTHS GROUP LIMITED – ASX WOWCITIGROUP PTY LTD

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