Surprising items Aussies giving up
Coles says Australians are changing their spending habits and cutting back where they can as value-conscious shoppers continue to curb discretionary spending.
Coles chief executive Leah Weckert said the supermarket giant's sales data for the three months until the end of March showed customers had cut back on treats, including lollies, alcohol, reduced their meat intake and ditching bottled water.
She also said customers were also looking for heavily discounted stock to buy when on their weekly shop.
'Our most popular and well-performing specials would be the ones that are 40 to 50 per cent off,' Ms Weckert said.
'We have announced big promotions that are really relevant to customers instead of lots of small ones.'
Ms Weckert said prices of health and home category products dropped during the period, while coffee and cocoa prices rose as shoppers prepared for Easter.
Overall, prices rose 1.5 per cent across the supermarket. Excluding tobacco, supermarket inflation was 1.1 per cent.
'Continued increases in livestock costs impact inflation in meat, particularly across the lamb, pork and poultry categories,' Ms Weckert said.
'Inflation, excluding tobacco and fresh, moved into deflation at -0.3 per cent, with deflation in the health and home category offsetting continued inflation across categories impacted by higher coffee and cocoa prices, such as confectionery, boxed chocolates and coffee.'
Coles announced group sales revenues lifted to $10.4bn in the third quarter, up $400m for this time last year on the back of its supermarket segment.
Supermarket sales revenue came in at $9.4bn for the third quarter, up 3.7 per cent. If tobacco was taken out, sales revenue increased by 4.7 per cent.
Sales revenue for the business's liquor division was $813m for the third quarter, down 2 per cent on last year.
However, comparable sales were impacted by the timing of Easter Sunday, which fell in the prior corresponding period.
'While the liquor market continues to be impacted by subdued discretionary spending, sales revenue was underpinned by strong execution across events, such as Australia Day, and a reset of our value offer across all stores to deliver a more compelling offer for customers,' Ms Weckert told investors.
Coles said in the early part of the fourth quarter, supermarket sales remained broadly in line with the third quarter, although it expects an increase in liquor sales over the Easter period.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 hours ago
- Yahoo
‘Figure just thrown around': Super myth busted
Older Australians are likely closer than they think to having a comfortable retirement, with workers often overestimating just how much they will need before they finish their careers. The majority of workers believe they will need at least $1m in their superannuation fund in order to have a comfortable retirement, new research AustralianSuper research reveals. AustralianSuper head of advice Ross Ackland said 94 per cent of retirees would finish their careers with far less than $1m in superannuation, and despite the fear-based narrative, that would still be enough to live a comfortable life. 'You might have heard you need $1m – it's the figure that's often thrown around as the financial retirement ideal, but the truth is, there's no one-size-fits-all,' he said. 'A comfortable retirement will look different for everyone.' Figures released earlier in the year by Super Consumers Australia showed a single person needed about $310,000, while a couple needed $420,000 to achieve a 'medium lifestyle in retirement'. But this has two major caveats; the retiree owns their own home and they go on the aged-based pension at some point throughout their retirement. The Association of Superannuation Funds of Australia has also run the figures, saying singles living a modest lifestyle will spend $32,930 a year, again assuming the retiree owns their own home. For Aussies wanting a 'comfortable' standard, singles need a higher amount of $51,814 and couples $73,031 a year. This would require a single superannuation member to have $595,000 in their accounts, while couples need to have $690,000. Retiree Warren Morrison said after a career in local government, banking and media, he was able to retire in 2022 at aged 64 with far less than 'a million bucks in super'. 'I worked out what I'd need day to day, figured out what brought me joy and built my retirement around that, eventually leaving the workforce with around $350,000 in superannuation,' he said. 'I'm not sitting still – I'm officiating weddings, hosting trivia nights, doing a bit of acting and even judging roller skating competitions. 'It's not about being rich, it's about being purposeful. I still have my coffee and cake with mates. I'm careful, but I'm not missing out.' AustralianSuper points out funds in superannuation are just part of what retirees will have when they finish work, with savings, other assets, lifestyle expectations and the pension all playing a role in how Australians will be able to spend the latter years of their lives. 'We know superannuation is incredibly important and encourage members to make extra contributions where appropriate, but super is only one piece of the retirement puzzle,' Mr Ackland said. 'It's also important to remember that our superannuation system is still maturing and will continue to deliver stronger outcomes for more Australians.' Compulsory super was only introduced in 1992 and at much lower contribution rates than we have today. The superannuation guarantee has also been on the rise in recent years and, from July 1, 2025, will climb to 12 per cent of a worker's income.
Yahoo
2 hours ago
- Yahoo
$1 million superannuation retirement myth busted: ‘Not a magic number'
The belief that Australians need to have $1 million in superannuation to retire comfortably has been busted by new research. The cost of living has put pressure on retirees and has many Aussies worried they won't have enough tucked away. More than half of recent retirees believe you don't need $1 million in superannuation to live well, new AustralianSuper research found. In fact, 94 per cent of Aussies who retired in the last five years did so with less than seven figures. Warren Morrison retired at 64 with $350,000 in superannuation. The Aussie, who previously worked in local government, banking and media, said he was living comfortably and doesn't feel as though he is missing out. RELATED Major superannuation change to give Aussie workers $600,000 boost in weeks Rare $1 coin worth 10 times more due to 'unfortunate' detail Major Coles move to take on Chemist Warehouse, Bunnings, Amazon 'I didn't have a million bucks, but I had a plan,' he says. 'I worked out what I'd need day to day, figured out what brought me joy and built my retirement around that, eventually leaving the workforce with around $350,000 in superannuation.' The research found 44 per cent of Aussies retired with less than $100,000 in super, 35 per cent retired with between $100,000 and $499,999, and only 21 per cent had $500,000 or more. Morrison said he was now officiating weddings, hosting trivia nights, dabbling in acting and even judging roller skating competitions in his retirement. 'It's not about being rich; it's about being purposeful. I still have my coffee and cake with mates. I'm careful, but I'm not missing out,' he said. 'The key isn't a magic number. It's knowing what kind of life you want and putting the pieces in place to live it.' Super Consumers Australia research released earlier this year found Australians may need less in their superannuation to retire than they think. It found that a typical single needs around $310,000 in super and a couple needs around $420,000 when they retire to maintain their living standards throughout their retirement. This assumes you own your home outright and factors in income you may be entitled to from the Age Pension. It is worth noting that this is lower than the standard from the Association of Superannuation Funds of Australia. Under this standard, a single person needs $595,000 in superannuation at age 67 to achieve a comfortable retirement, while a couple needs $690,000. AustralianSuper head of advice and guidance Ross Ackland said some people thought they needed to be chasing a seven-figure balance to live well in retirement, but this wasn't the case. 'We know superannuation is incredibly important and encourage members to make extra contributions where appropriate, but super is only one piece of the retirement puzzle,' he said. He said it was important for Aussies to plan their budget around their lifestyle, rather than just a number. 'The key to retirement confidence is to be realistic, understand your needs and make the most of all the tools available to you — whether that's superannuation, the age pension, good spending habits or even simple planning tools that help you get a clearer picture of what you might need,' he said. He noted that future generations would benefit from the compulsory super system for their full working lives, unlike most retirees today. Workers will also benefit from higher contribution rates, with the super guarantee rate increasing to 12 per cent on July in retrieving data Sign in to access your portfolio Error in retrieving data
Yahoo
5 hours ago
- Yahoo
ATO warning over 'deluge' coming for taxpayers in coming weeks: 'Catch you off-guard'
Australians are being warned to watch out for tax scam emails and text messages designed to catch you off guard. Tax time is just around the corner and scammers are already trying to take advantage of the situation. The Australian Taxation Office (ATO) has reported a 300 per cent increase in impersonation scam emails from this time last year. It said it generally sees more reports around this time, as scammers know this is when you expect to hear from it. CPA Australia tax lead Jenny Wong said Aussies should prepare for a 'deluge of scam activity' ahead of June 30. RELATED ATO capital gains tax warning as Aussies caught doing the wrong thing: 'Focus area' Rare $1 coin worth 10 times more due to 'unfortunate' detail Major Coles move to take on Chemist Warehouse, Bunnings, Amazon 'Scammers take advantage of any situation, and at tax time that means targeting unsuspecting individuals through unsolicited messages claiming to be the ATO or another reputable organisation,' she said. 'These 'phishing' scams not only look legitimate, but they're designed to catch you off-guard. That's why you'll often see them arrive first thing in the morning because you may be more likely to have a momentary lapse in judgement.' The ATO said scammers would send fake messages trying to trick people into handing over their personal information. 'Once they have your details, they can steal your identity and commit fraud in your name,' it said. 'They know you're busy and probably distracted wrapping up end of financial year, so they'll ask you to respond quickly hoping you don't verify the interaction.' Australians lost $119 million to scams in the first four months of 2025, according to Scamwatch data. This was despite the overall number of scam reports dropping by nearly a quarter to 72,230. Phishing scams accounted for $13.7 million in losses, nearly tripling compared to $4.6 million in early 2024. ATO tax scams will usually create a sense of urgency or claim you are owed a significant refund, Wong said. Scam emails seen by CPA Australia include titles like: 'Urgent new notification in your account inbox' and 'New Tax Lodgement'. They usually direct you to log into your myGov account and claim to provide a secure link for you to click. They may try to trick you into clicking links to see 'official government correspondence', an 'update regarding your benefits', a 'new refund notification' or say you need to click to 'avoid being penalised'. The ATO does not use hyperlinks in unsolicited SMS messages, so if you see this, it is likely a scam. The ATO will also never ask for passwords, account numbers or other sensitive data via email or SMS. If you are unsure about a message, contact the ATO on 1800 008 540 or visit verify or report a beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten
