In 2008, the profits of Australia’s grocery duopoly were in line with overseas supermarkets. By 2024 they are among the highest in the world

Sixteen years ago, the Rudd government ordered an inquiry into the supermarket sector amid rising public discontent about grocery prices.

The sector was already highly concentrated with Coles and Woolworths enjoying a collective 65% share of the market, as the Franklins business withered and upstart Aldi was still in its early stage of expansion in Australia.

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