The ACCC is undertaking legal action against supermarket giants Coles and Woolworths, accusing them of misleading consumers with deceptive pricing practices. Customer distrust of both brands is at an all-time high.

Canberra

Coles and Woolworths are facing a legal challenge from the Australian Competition and Consumer Commission (ACCC) over allegations of misleading conduct in their pricing claims. The ACCC accuses the supermarket giants of deceptive practices by misrepresenting price discounts. An example cited involves Woolworths selling a family pack of Oreos for $3.50 for most of the year, increasing the price to $5 for 22 days, and then reducing it to $4.50 while claiming it was a discount, ultimately a 29% increase from the original price.

These allegations come at a time when accurate pricing is critical due to cost of living pressures. Each violation could result in a substantial fine of up to $50 million. The news has already impacted the share prices of both companies, each dropping nearly 4%. 

Responses from shoppers highlight a general distrust in the price discounts promoted by these retailers. Woolworths has stated it is reviewing the ACCC's action, while Coles has announced its intention to contest the claims in court.



Coles, Woolworths sued over deceptive pricing practices

In consumer terms, it's a declaration of war. This is very significant. The conduct we consider is very serious. The ACCC is taking coals and woolies to court, accusing them of misleading conduct in their claims that prices have been cut. These are serious allegations that the ACCC is bringing before the courts. If this is found to be true, it's completely unacceptable. The ACCC alleges deliberate and planned deception. Giving the example of the humble Oreo. For at least 696 days, Woolworths sold the family pack for $3.50, then for just 22 days raised the price to $5 before dropping it back to $4.50 and claiming that was a discount. In fact, it was a 29% increase compared with the previous regular price. In times of cost of living pressures, it is critical that all pricing claims and price discount claims are accurate. Not just critical, but legally enforceable. Each contravention brings a potential $50 million fine. Coals and Woolworths share prices took a near 4% hit as the news broke. A shopping car park check found many shoppers sense they're being ripped off, even as they hunt for bargains. Do the discounts matter to you? Yeah, absolutely they do matter. Yeah, of course. And do you trust them? Um, I'll be honest, not really. I'm an aged pensioner, you have to. And do you believe it when they say that the prices are cheaper? No. Woolworths says it is reviewing the ACCC action. Coals is more defiant, saying already it will defend the claims in court. Hugh Rimmington for 10 News First.

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