27 September 2024
In response to today’s release of the ACCC’s interim report on its Supermarket Inquiry, BCCM CEO Melina Morrison issued this statement:
“The ACCC’s ongoing investigation of supermarket control is necessary not only for consumer choice and fair pricing but also for local food security. Australians should be alarmed that 67 per cent of the market is in the hands of just two players, as noted in the ACCC’s interim report. Australia has a profound lack of diversity of business models in many sectors, but this is very obvious in supermarket retail. The slow attrition of mum and dad stores, smaller supermarkets, independent stores and co-operative shops is also the result of policies failing to support different corporate structures like co-ops and mutuals.
“In many countries the secret to the flourishing of independent stores, co-op supermarkets and farmers’ markets is the fact that business policy settings enable these types of businesses to compete on a level playing field.”
There are currently at least 72 co-operatives active in grocery retailing with an estimated combined turnover of $500 million and 75,000 members. While not a large part of the overall market, most co-operatives operate in regional and remote markets where they are crucial in securing the supply of groceries for their members.
Watch BCCM on The Business about supermarket concentration
Read BCCM’s submission to the ACCC
Read Melina’s comments on the ABC business blog
Read Melina’s comments in the AAP article Major supermarkets breached trust, Albanese says
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