Our petition to #stopthesuperprofits has now closed, with a massive 77,607 New Zealanders adding their signature to help us demand fairer prices at the supermarket checkout. Thank you for your support on this important issue. There is power in numbers, and this has made a big impact.
We met with Consumer Affairs Minister David Clark and are pleased to report that the Government has listened – they will require the supermarkets to open their wholesale operation to competitors. We think that’s a major win and we’re on the way to a healthier, more competitive supermarket sector, but don’t worry… we’ll be keeping on progress.
The Government is also introducing an industry regulator, a mandatory code of conduct, compulsory unit pricing and more transparent loyalty schemes. Consumer NZ sees this as a good move.
Our nationally representative research tells us that in the last year, food costs have jumped from the eighth most concerning to the third, after rent and mortgage payments. On a national level, concerns about Covid-19 in the community and an overinflated housing market have been superseded by concern about cost of living.
“We need to create an even playing field for new and emerging grocery retailers, and we need to see action now. Given the pressure New Zealanders are under due to cost of living increases and global inflation, we can’t wait years for this to be sorted out. The duopoly has been making profits of more than $1 million excess per day. We’re pleased to see the Government taking proactive steps.” said Jon Duffy, Consumer NZ chief executive.
