Coles and Woolworths’ earnings would be crunched, and they would face higher promotion and media spend if the competition watchdog dismantles their loyalty schemes as part of its investigation into market power, Macquarie has warned.
The Albanese government directed the Australian Competition and Consumer Commission to look into prices and supermarket profitability earlier this year amid a cost of living crisis.
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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
