Woolworths has told customers that the festive season will feel different depending on family circumstances, Yahoo Finance reported, with some households facing financial difficulty from cost-of-living pressures. Chief executive Amanda Bardwell said some customers are planning earlier to spread costs, and that some Everyday Rewards members are saving their rewards points for the festive season.
The supermarket indicated it intends to support customers experiencing financial difficulty over the Christmas period. Customers using Everyday Rewards may find value in holding rewards dollars for festive spending.
Rival Coles reported quarterly supermarket sales of $10.32bn, up 3.6%, with same-store sales up 2.7%. Coles relaunched its Every Day Price program ahead of the festive season, locking eligible product prices for six months or more, and grew its Exclusive to Coles range. Chief executive Leah Weckert said shoppers are making more deliberate choices across multiple retailers because household budgets remain stretched.
Both supermarkets have been centralising their supply chains to cut costs, leading some local suppliers to lose agreements. Industry experts have raised concerns that producers will become more vulnerable if this continues.
Customers shopping at Woolworths over the festive period can expect the supermarket to focus on value and support for those on tighter budgets.
Reporting: Yahoo Finance
Background: ABC News
Written by Pick & Scroll News from the reporting and documents linked above.
