Woolies and Coles ring up half of all food bills
MORE than half of all the money Australian households spend on food each year, including groceries, restaurant and takeaway meals, goes into the coffers of the supermarket giants Coles and Woolworths, a new report reveals.
The FOODmap report, released yesterday by the Department of Agriculture, Fisheries and Forestry, shows supermarkets now account for 63 per cent of all food sales in Australia – 80 per cent of which is controlled by Coles and Woolworths.
The report says a reduction in discretionary spending by consumers since the global financial crisis in 2008 has led to more meals being eaten in the home and has led to supermarkets receiving a greater share of the $130 billion spent on food and beverages in 2010-11. Sydney Morning Herald – Read more…