Supermarket Excess Profit Petition

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Eva888

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#295968 10-May-2022 08:57

A link to sign the petition to be presented to Parliament Minister David Clark to act now to
create more competition, make profits fair and lower grocery prices for New Zealanders.

https://campaigns.consumer.org.nz/supermarkets#sign-the-petition

Hearing on the news this morning that one supermarket was selling butter at $8 while The Warehouse managed to sell it for $4 was infuriating enough. Blaming the war as the reason for all increases doesn’t wash with consumers after years of high prices. I can’t bear to think how families with children are managing to feed their kids and pay a rising mortgage.

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#2912144 10-May-2022 09:10

who decides what a "fair" profit is?

Slope is far too slippery and we certainly don't want to become even more state ruled than we already are

rb99

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#2912145 10-May-2022 09:14

Even more state ruled ?

“The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness.” -John Kenneth Galbraith

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Eva888

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#2912148 10-May-2022 09:22

sen8or:
who decides what a "fair" profit is?

Slope is far too slippery and we certainly don't want to become even more state ruled than we already are

Isn't it already state rules that aren’t allowing more competitors into the market place. An Aldi like in Australia fast sorted out the prices. This is not asking for profit control in other areas except for food which is a necessity of life.

1101

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#2912151 10-May-2022 09:32

So, the govt will pass a law the FORCES a major 3rd player into the market

Yep, brilliant idea . Cant see any issues with that .

We all know just how well petitions work (not) . Perhaps the govt will have another inquirey .

:-(

Want to make a change, have mass protests outside supermarkets .
Have mass boycotts of goods deemed overpriced : ie butter in your example .

Also , your butter example.
how do you know that The Warehouse wasnt selling butter at a loss? (loss leader)

wellygary

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#2912157 10-May-2022 09:51

Eva888:

Hearing on the news this morning that one supermarket was selling butter at $8 while The Warehouse managed to sell it for $4 was infuriating enough.

Why,

many stores choose to loss-lead on certain items all the time.... Remember $1 bread

Letting government get involved in regulating food distribution often leads to less than desirable outcomes,

Domestic milk sales used to be controlled, you were unable to buy milk at the supermarket and local trucks would deliver to your door once a day....

deadlyllama

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#2912158 10-May-2022 09:52

1101:

So, the govt will pass a law the FORCES a major 3rd player into the market

That approach worked well in the mobile telecommunications sector.

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rb99

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#2912162 10-May-2022 10:01

1101:

So, the govt will pass a law the FORCES a major 3rd player into the market

Effectively, yes.

“The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness.” -John Kenneth Galbraith

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Jase2985

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#2912163 10-May-2022 10:05

should we do this for oil companies too? where does it stop?

Lias

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#2912164 10-May-2022 10:05

The last thing this country needs is more regulation, it's massively overregulated as it is.

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rb99

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#2912165 10-May-2022 10:07

Lias:

The last thing this country needs is more regulation, it's massively overregulated as it is.

No its not

“The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness.” -John Kenneth Galbraith

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wellygary

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#2912166 10-May-2022 10:09

deadlyllama:

1101:

So, the govt will pass a law the FORCES a major 3rd player into the market

That approach worked well in the mobile telecommunications sector.

Yes, but mobile communications is a very different sector where the government controls the playing field as it determines the allocation of spectrum....

Last time I looked the government has very little say in allocating land for supermarkets, or making agreements with farmer/suppliers

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johno1234

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#2912167 10-May-2022 10:10

Quick peek at PaknSave v Coles

PaknSave butter 500g is NZ$6.79 for the house brand. Quick look at Coles in AU (not even sure if that's the low cost supermarket there?) shows house brand Coles butter AU$6.00.

Then consider the exchange rate, and no GST on food in AU.

NZ$5.90 + GST here vs NZ$6.60 + no GST there

Our butter is cheaper until you add GST. Despite Australia's economy of scale. And our inflation is double Australia's.

Geektastic

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#2912170 10-May-2022 10:19

Lias:

The last thing this country needs is more regulation, it's massively overregulated as it is.

Agreed. You cannot even walk Milford Track without making an official booking or name your child without State approval. NZ appears to have created the belief in the minds of the population that they are free and able to do as they wish and at the same time regulated everything to the nth degree without anyone complaining. No idea how they achieved that but it is spectacular, if chilling.

kobiak

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#2912172 10-May-2022 10:29

I'm always shaking my head, when I read something like that

NZ needs to become more attractive to the business. Costco is here (let's hope they are successful), warehouse started selling groceries, how much more competition there should be to the addition of woolworths and foodstuff?

helping others at evgenyk.nz

rb99

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#2912175 10-May-2022 10:41

Costco, as in one shop ? Two dominate the market, duopoly more or less equals monopoly

“The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness.” -John Kenneth Galbraith

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