Executives from Woolworths were questioned at a regulatory hearing about their business practices.

The embattled retail giant, Woolworths, has recently been put under the spotlight as they appeared before the public hearings of the ACCC. The pressure from the public has forced them to address their role as the dominant retailer in Australia.

The top executives of Woolworths, including CEO Amanda Bardwell, former CEO Brad Banducci, property boss Ralph Kemmler, Food boss Guy Brent, Rewards boss Hannah Ross, and former supermarkets boss Natalie Davis, were all present to answer the ACCC's inquiries. They were grilled about the impact of their duopoly with Coles on the Australian consumers.

When asked about the competitiveness of the grocery industry in Australia, Bardwell confidently stated, "I believe that the grocery industry in Australia is highly competitive." However, this statement was quickly challenged when the Senior Council, Naomi Sharp, pointed out Woolworths' 38% market share.

The supermarket's dominance has made them vulnerable to attacks from all sides. The ACCC has taken Woolworths to court for allegedly misleading discounts, which has caused outrage among investors and workers alike. Even the government and opposition have joined in the criticism, with some calling for the power to break up the duopoly.

Prime Minister Anthony Albanese has expressed his disappointment with the way supermarkets have been treating their customers, stating, "Customers deserve better than to be treated as fools by the supermarkets." This sentiment has been echoed by many, especially after the recent revelation of misleading discounts by both Coles and Woolworths.

Despite the backlash, the leaders of Woolworths defended their company's size and power. However, the ACCC will be posing similar questions to Coles on Thursday before they release their final report in February. This report will contain recommendations for the government on how to handle the duopoly, just as the "cost of living" issue becomes a prominent topic in the upcoming election.

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