Coles says Australians are finding new ways to save at the checkout, with more hunting around for the cheapest prices. Coles chief executive Leah Weckert said shoppers were “cross shopping” in a bid to cut costs, with the average shopper now visiting three to four retailers to fill their shopping basket as they look to save money due to cost-of-living pressures. Ms Weckert said as shoppers sought out value to stretch their family budgets, 95 per cent of those surveyed by the supermarket shop at three or more retailers every week for their food and grocery needs.
Coles said the company’s first-quarter sales were up 2.9 per cent to $10.55bn, with its flagship supermarket arm posting a 2.
4 per cent lift in sales to $9.51bn. The supermarket said sales in the quarter continued to be impacted by the subdued economic environment, with consumers constraining their discretionary spending.
Just 24 hours after Woolworths announced profit warnings, Coles said supermarket prices were falling. Excluding tobacco, sales revenue increased by 4.9 per cent and comparable sales growth was 2.
4 per cent. Much of the weakness in sales came through for liquor, with sales flat in store and falling 1.9 per cent online.
“Cost of living remains a challenge for many of our customers, and we are focused on helping them find value in our stores through weekly specials, value campaigns, Flybuys and exclusive brands,” Ms Weckert said. “Pleasingly for customers, meat, dairy, health beauty and home.
