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Customer update

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Listening to our customers, we know that the cost of living is a challenge. Many tell us that they are trying to balance the impact of inflation across many areas of household spending and they are looking to us to provide real value and savings to help manage their budgets.
 

australian average household spend

 

Further information on Australian household budgets can be found in Boston Consulting Group's, Consumer Spending Report: Snapshot into the Australian Market (May 2024).  

Consumer sentiment in Australia and New Zealand has been weak for some time. However, since Christmas, we have seen a noticeable change in consumer behaviour as customers have adjusted their budgets and spending following the holiday period. This is consistent with Ipsos data which showed that the gap between cost-of-living concerns and other concerns continues to widen.

 

australian average household spend
australian average household spend

Inflation trends


We know that our customers expect us to help them with that balance and we have been working hard to help customers spend less. Food inflation has moderated over the last 12 months and favourable conditions in Fruit & Vegetables and Meat have led to price reductions in these categories. We are constantly evolving our digital and online tools to help customers find the best value whether they shop in-store or online. Click here to see more ways we are helping customers spend less.

inflation trends

 

Customers shop in our stores multiple times a week, are budget savvy and grocery price increases are very visible to them. This, together with customers feeling that they have some control over their food and grocery budget, brings grocery price increases into sharp focus. We are also seeing customers make the most use of ways to save such as buying products on promotions, comparing unit prices and making the most of reward and loyalty programs.

average food price change
customers looking for more ways to save

Where your dollar goes


We are committed to balancing the needs of all stakeholders. We want to provide the best experiences for our customers and team, make a meaningful contribution to our communities, support our trade partners and deliver long-term sustainable growth for our shareholders. 

how group revenue is distributed