Grocery sales growth slows as Woolworths, Coles cut prices

 In Aldi, Australia, Coles, NewZealand, Woolworths
The battle for market share between the major grocery chains and independent retailers has led to the weakest supermarket sales growth in almost two years.
While overall retail sales growth exceeded market forecasts in June, delivering a long-awaited shot in the arm to traders, food sales growth was weaker than expected due to intensifying price competition between Woolworths, Coles and independent retailers.
Supermarket and grocery store sales rose just 2.9 per cent – the weakest rate of growth since September 2013 and well below the six month trend – as Woolworths, Coles and independents supplied by Metcash cut prices to regain market share lost to Aldi.  Sydney Morning Herald – Read more…

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