As usual, Woolworths chief executive Brad Banducci provided great insight into the psyche of struggling consumers on the supermarket giant’s quarterly sales call – and it’s not pretty.

Firstly, cost-of-living pressures are spreading, from families to younger couples and singles, and into more affluent suburbs. Secondly, shoppers are coming into stores with a fixed budget that they’re strictly sticking to. Thirdly, there’s a growing shift back to dining at home, which Woolworths has been expecting for some time.