Australia: Aldi and Costco bring down grocery prices

International grocery giants Aldi and Costco are driving down fruit and vegetable prices in Western Australia at a faster rate than anywhere else in the country, says new research. An analysis conducted by Bankwest has found that Perth shoppers spent 6.9 percent less on fruit and veg in the year to September 2017 than the previous year, signalling a step up in competitive intensity among Australia’s major supermarkets as discounters increase their investment in the state.

In the year to June 2016 the average price of a grocery basket in Western Australia declined by 5.1 percent from $177.7 to $168.6. Prices have declined 1.4 percent over the last three years.

Retailnews.asia reports how smaller retailers have been adversely impacted by the increase in competition, particularly as Coles and Woolworths move to improve their fresh offers to shore up their own operations.

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