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Unpacking our supermarkets’ superprofits
When the Facts Change
New Zealand Supermarkets Are More Profitable Than You'd Expect
New Zealand's supermarkets are more profitable than you would expect if there was a competitive market. The commission could have been stronger on providing access to independent retailers for aggregated supply of wholesale, Bernard says. Wholesale market is absolutely broken and that's why dairy owners and the night and day stores lining up in peckensaves rather than by elsewhere. We put in front of the commission about 100 gigabytes worth of evidence about some of the poor behaviour. And I think it's a chance for a cultural change in the business side of grocery because things happen in our industry that banking got rid of 20 years ago. It just really needs a new century update in terms of its culture and business
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