Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Politics

Australian supermarket giants face class action over ‘dodgy’ discounts

admin by admin
November 14, 2024
in Politics
0
Australian supermarket giants face class action over ‘dodgy’ discounts
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter

A shadow of doubt has fallen over Australia’s two largest supermarket chains, Woolworths and Coles, as they face a class-action lawsuit alleging misleading discount practices.

Amidst a cost-of-living crisis that has gripped the nation, the legal challenge adds further pressure to a sector already under intense scrutiny.

The lawsuit, launched by consumer protection law firm Gerard Malouf & Partners, claims the retailers advertised deceptive discounts on everyday products, potentially misleading millions of shoppers.

The firm argues that Coles and Woolworths inflated prices before applying discounts, resulting in final prices that were equal to or even higher than the original, pre-inflated cost.

The price of deception: potential refunds for Australian consumers

The firm estimates that the average customer who purchased such products from Coles between February 2022 and May 2023, and from Woolworths between September 2021 and May 2023, could be entitled to a refund of up to A$1300 ($840.25).

The class action aims to recoup the difference between the allegedly illusory discounted price and the true, undiscounted price.

A separate battle: distinguishing the class action from ACCC lawsuits

This legal action follows separate lawsuits filed by the Australian Competition and Consumer Commission (ACCC), the consumer watchdog, against both supermarket giants for similar misleading discount practices on hundreds of products.

However, the class action by Gerard Malouf & Partners distinguishes itself by specifically seeking refunds for affected consumers.

Safeguarding consumer rights: law firm’s chairman weighs in

“We believe this class action is an essential move toward safeguarding consumer rights and demanding transparency in retail practices Australia-wide,” stated Gerard Malouf, chairman of the law firm.

This statement underscores the broader implications of the lawsuit, potentially setting a precedent for consumer protection in the Australian retail landscape.

Market reaction: Woolies dips, Coles edges up

Following the announcement of the class action, Woolworths’ shares closed 0.4% lower on Thursday, while Coles experienced a marginal gain of 0.2%.

The market’s response suggests a cautious wait-and-see approach as the legal proceedings unfold.

Coles and Woolworths did not immediately respond to Reuters’ request for comments.

The ongoing cost-of-living crisis, coupled with rising interest rates, housing costs, and energy bills, has further intensified scrutiny on supermarket pricing practices.

The post Australian supermarket giants face class action over ‘dodgy’ discounts appeared first on Invezz

Previous Post

Foxconn rides the AI wave: Q3 profits soar amidst server demand

Next Post

UK may introduce crypto regulations to counter Trump-led US appeal

admin

admin

Next Post
UK may introduce crypto regulations to counter Trump-led US appeal

UK may introduce crypto regulations to counter Trump-led US appeal

Trending News

London lost the highest number of millionaires last year after Moscow: is the city losing the race for global capital?

London lost the highest number of millionaires last year after Moscow: is the city losing the race for global capital?

April 9, 2025
Top 3 small-cap stocks to buy ahead of Trump’s inauguration

Top 3 small-cap stocks to buy ahead of Trump’s inauguration

January 18, 2025
Singapore Gulf Bank plans $50M funding to acquire stablecoin payments firm

Singapore Gulf Bank plans $50M funding to acquire stablecoin payments firm

November 25, 2024
Subscribe to Insightful Word


    Recent News

    ARB eyes recovery as Arbitrum taps agentic DeFi revolution with $1M grant

    ARB eyes recovery as Arbitrum taps agentic DeFi revolution with $1M grant

    June 5, 2025
    Ripple releases $2.18B in XRP, price dips 2%

    Ripple releases $2.18B in XRP, price dips 2%

    June 5, 2025
    Nintendo Switch 2 launch sees shortages as 2.2M vie for units in Japan

    Nintendo Switch 2 launch sees shortages as 2.2M vie for units in Japan

    June 5, 2025
    Why Bank of America sees 13% upside on Roblox (RBLX)

    Why Bank of America sees 13% upside on Roblox (RBLX)

    June 5, 2025

    Recent News

    ARB eyes recovery as Arbitrum taps agentic DeFi revolution with $1M grant

    ARB eyes recovery as Arbitrum taps agentic DeFi revolution with $1M grant

    June 5, 2025
    Ripple releases $2.18B in XRP, price dips 2%

    Ripple releases $2.18B in XRP, price dips 2%

    June 5, 2025

    Latest News

    • ARB eyes recovery as Arbitrum taps agentic DeFi revolution with $1M grant
    • Ripple releases $2.18B in XRP, price dips 2%
    • Nintendo Switch 2 launch sees shortages as 2.2M vie for units in Japan

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.