October 2nd 2024.
Coles has recently made headlines after a video went viral on social media showing one of their employees marking up the prices of various products in-store. The video, which was uploaded on TikTok with the caption "I miss hanging hundreds of price increases a week," shows the worker updating paper tickets on multiple items, resulting in a significant jump in their prices.
In the video, the employee can be seen changing the advertised price of a 65 pack of Finish Quantum Ultimate Pro Dishwashing Tablets from its discounted price of $33 to a staggering $64 - almost a 50% increase. He also updates the price of Tasmanian Heritage Camembert from $6 to $7.50, along with several other products with price increases ranging from $1.50 to $13.
It is unclear when the videos were filmed, but they were uploaded this week and have caused quite a stir. 9News.com.au has reached out to the employee for comment, but there has been no response yet. Coles, on the other hand, has defended the ticket changes as a standard practice and has clarified that the videos do not show any products that have been reduced in price.
A spokesperson for Coles stated that the company remains committed to keeping prices affordable for its customers. They also mentioned that due to higher inflation, they have received a higher number of cost price increase requests from suppliers, and while they try to keep their prices competitive, some of these increases are passed on to the customers.
The release of these videos coincides with the ACCC's crackdown on misleading and deceptive pricing by Australian supermarkets. The government is set to unveil plans for the ACCC to investigate the pricing policies of major supermarket chains such as Woolworths and Coles, including items on special. The regulator will also be looking into other practices by supermarkets, like land banking, and addressing the need for more competition in regional areas.
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