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Woolworths, Coles sued by ACCC for ‘misleading’ price drop claims (www.smh.com.au)

submitted 1 month ago by [email protected] to c/[email protected]

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“We also allege that in many cases both Woolworths and Coles had already planned to later place the products on a “prices dropped” or “down down” promotion before the price spike, and implemented the temporary price spike for the purpose of establishing a higher “was” price.

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[–] [email protected] 2 points 1 month ago (1 children)

Profit goes brrrrrr

Let's start a non profit supermarket chain

[–] [email protected] 4 points 1 month ago (1 children)

A cooperative is one way to start on that: https://www.abc.net.au/news/2024-07-10/supermarket-alternative-co-ops-save-money/104078660

[–] [email protected] 1 points 1 month ago (1 children)

Their definition sounds like too much work, would be better to pay someone to do the work

[–] [email protected] 3 points 1 month ago

I get the joke, but actually...yes. A co-op doesn't mean the people actually doing the work don't get paid. It actually doesn't even mean not-for-profit, just that the people profiting aren't shareholders, but people who actually have a direct stake in the business. That can be a customer-owned co-op, supplier-owned, worker-owned, or some combination of those. Those groups would be the ones making any profit, in a for-profit co-op. And in a not-for-profit worker- or supplier-owned co-op, the workers (including the CEO) and suppliers still get paid—they're just able to be paid more while selling goods for the same price, or paid the same while achieving a lower price, than a non-co-op business would.