Regional Food Bank’s Post

With all the noise about grocery retailers manipulating prices and gouging why not just add them into the Consumer Data Right regime? Make the pricing data available via public API's and make it easier for consumers to access the data that grocery retailers have been collecting through their loyalty schemes. If it's good enough for petrol retailers, banks, energy retailers and telcos, why not grocery retailers?

**RATES MIDDAY** Clean up on aisle 5 as Sainsbury's Bank update 1 yr ISA and Tesco Bank update fixed rates Chetwood Financial Limited move it's 1 yr £10k min deposit rate to 5.17%, leading accounts in this market. In the video below 👇 , we start on the Savings Index Daily Rate Change Monitor and check out today's activity, then use the calendar to change the date to check out yesterday's activity. In this example we can see that Allica Bank priced their 1 yr business deposit at 5.15% - we then cut over to the Savings Index Market Monitor where we can see that Allica Bank's offer in this market leads the table. See all rate changes here: https://lnkd.in/gRnJ94-v Our intuitive, web-based platform supports real-time rates analytics and historical savings rate data - please do reach out for a demo: info@savingsindex.com

I love it how fraudulent and deceptive anti consumer behaviour is sugar coated with the use of cute wokish descriptivism such as "shrinkflation "or, wait for it, skimplflation. How about we say it for what it is, which is consumers are being roundly conned by anti-consumer and anticompetitive strategies on the part of a number of larger and dominant retailers. Anticompetitive, because in cheating the consumer, they are gaining an unfair commercial advantage over the vast majority of smaller retailers who do treat their customers fairly and behave with integrity. Just recently, the ACCC has announced it taking action against Australia's biggest food retailers Woolworths and Coles. Excellent I say. Lets hope they shed light on the strategic thinking behind these behaviours. But, where are the shareholders? Surely mum and dad shareholders and the so called socially concerned large investor groups (the ones who erupt in rashes if you mention the words iron ore or coal) could apply internal pressure? How you behave towards consumers should surely be a criteria of investment? So, why are we not seeing pressure being applied at board level? Sure, in the short term, the shareholders of the culprit corporations will see share prices retaining their value, but it is never a good long term strategy to antagonise your customer base. Here is an idea. How about the larger retailers set a price for goods that is reflective of their cost structures and desired profit margin and let the market forces honestly play out. If they find their competitors are offering genuine discounts for the same product, then they can either match the market price, or offer a better service or quality of product. Ah, but that requires a bit of work and taking some risk with profit margins. Yep, that is what a proper competitive market looks like. Going back to the ACCC case, while I find it excellent the ACCC is showing some teeth, do we not think it is time for action against land banking which prevents competitors setting up shop within the land banker's patch. Here is another idea! How about introducing new rule that says a retailer must, after land banking for say two years, prove to the ACCC that it holds the land for a genuine commercial reason such a planned opening of a new store on the said land within a prescribed period, failing which the ACCC would have powers to force the landbanker to sell the land on the open market at a fair value. What do think? Would that make retailers think twice before unfairly blocking competition moving into their patch, and more importantly release some land for other retailers to move in.........

Looking to buy a chicken coop that’s built to last without breaking the bank? See our essential tips for choosing a coop that balances quality, durability, and budget. 👉 https://hubs.ly/Q02WT6m00 #coops #chickencoops #backyardchickens

🚛 Labor, transportation, weather challenges and high credit card swipe fees that cost businesses and consumer billions of dollars a year are cost pressures in our grocery supply chain that contribute to elevated food prices. In his recent Bloomberg interview, FMI member and SpartanNash CEO Tony Sarsam talks about these headwinds, including the need for legislation like the Credit Card Competition Act to foster greater competition in the credit card marketplace. Passage of this legislation can ease the burden on grocery retailers and their customers who choose to use credit cards for everyday purchases like groceries. Watch more 📺 https://brnw.ch/21wNb8F Read our statement 👉 https://brnw.ch/21wNb8E #SwipeFees #GrocersSupport #CreditCardCompetitionAct #FMI

Hunters Plaza Foodtown is the first of the supermarket chains to use Eftpos. ANZ Bank is working with Foodtown stores around the country who will also have Eftpos installed. Eftpos is a method of payment from cashflow cards which means goods can be paid for without a cheque or cash." Manukau Courier, #OnThisDay 17 December 1991 https://ift.tt/YHapsnE

You would think from all the media reporting of the ACCC interim report on supermarket competition today that supermarkets are the "bad boys" of the economy. And they appear to be! But it's more subtle than that. Here's my deep dive on the topic from earlier this year, especially around landbanking and competition over sites. https://lnkd.in/gw8RpZaC

The latest report from the British Retail Consortium (BRC) reveals that food inflation has dropped to its lowest rate since 2021. This significant decrease provides some much-needed relief for both consumers and businesses. Discover the key factors contributing to this decline and what it means for the future of food pricing and supply chains:- https://lnkd.in/eTCSzev5 #foodindustry #inflation #pricing

Have you ever had any questions about the Regional Food Bank? Each week we will be posting frequently asked questions to better serve our community! Join the discussion and comment any questions you have about the Regional Food Bank, and we will try our best to answer! #RegionalFoodBankFAQ #FightHunger

🛒 Metcash Group Financial Year 2024 Results (May 2023 - April 2024). Last week, Metcash Group released their FY'24 results:   • Group revenue increased 0.7% to $15.91B and 0.7% to $18.18B including charge-through. • Group underlying EBIT decreased 0.9% to $496.3M. • Underlying profit after tax decreased 8.2% to $282.3M.  Metcash Food value sales declined by -0.5% vs YA incl. charge-through, and -1.2% excl. charge-through. The decline in Food sales is driven by a -13.9% decline of Tobacco sales, caused by an acceleration in illicit trade and the shift to alternatives. Excluding Tobacco, Total Food sales (incl. charge-through) increased by +4.6%, with strong growth in both Supermarkets and Campbells and Convenience. Tobacco category represents almost quarter (24.1%) of all Metcash Food business unit sales, which is why strong decline in Tobacco sales has significant impact on the overall Food performance. All the key stats and details that you need to know are on the slide. Link to the FY'24 full year results presentation is in the comments. Stay informed. 🤝 #retail #fmcg