Coles chief executive Leah Weckert has told a competition inquiry that the supermarket is always trying for lower prices than rival Woolworths but has previously lost market share when it had focused only on value.
Ms Weckert said price and value were an “absolute cornerstone” of Coles’ growth – Woolworths is about 20 per cent larger in footprint – but experience showed shoppers wanted more than just cheap products.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
