Coles profits - supermarket giant's profits are up, but are they doing enough to help their customers?

Coles has announced a surge in profits, but some customers are questioning whether the supermarket giant is doing enough to help them.

The supermarket chain's profits rose by 11.4 per cent to $1.1 billion in the first half of the 2023 financial year. This was driven by strong sales of its own-brand products and a rebound in liquor sales.

However, some customers have expressed concern that Coles is not passing on enough of its profits to consumers.

The supermarket giant has been accused of profiteering from the cost of living crisis.

A recent survey by consumer group CHOICE found that Coles was one of the most expensive supermarkets in Australia.

Coles has defended its pricing, saying that it is "committed to providing our customers with the best possible value for money". However, some customers remain unconvinced.

"I think Coles is making a lot of money out of the cost of living crisis," said one customer. "They're not doing enough to help people who are struggling to make ends meet."

Another customer said: "I'm sick of paying such high prices at Coles. I'm starting to shop at Aldi more often because they're much cheaper."

Coles is not the only supermarket that has been accused of profiteering during the cost of living crisis. Woolworths, the other major supermarket chain in Australia, has also been criticized for its high prices.

The Australian Competition and Consumer Commission (ACCC) is currently investigating the supermarket industry. The ACCC is looking at whether the supermarkets are engaging in anti-competitive behavior.

The ACCC's investigation is expected to be completed in the second half of 2023. In the meantime, customers are left wondering whether the supermarkets will do more to help them during the cost of living crisis.