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The Commerce Commission has opened an investigation into the supermarket majors following an allegation of Fair Trading Act breaches.
The competition watchdog said it was investigating Woolworths, Foodstuffs North Island and Foodstuffs South Island after Consumer NZ lodged a complaint with the Commerce Commission in August.
Commerce Commission deputy chairwoman Anne Callinan said the focus of the investigations into the supermarkets would consider whether certain pricing and promotional practices of the three companies complied with the Fair Trading Act.
Commerce Minister Andrew Bayly told BusinessDesk he wants the commission to be brave and take on well-resourced large players such as the supermarket duopoly and fully use the tools in its regulatory arsenal, including prosecutions.
A spokeswoman for Woolworths, which was previously known as Countdown, said in a statement: “The Commerce Commission has contacted us regarding the pricing complaints it has received since September 2022. We will co-operate fully but it is not appropriate for us to comment further.”
A Foodstuffs spokesperson said the grocer, which operates the New World and Pak’n Save brands, was aware of the Commerce Commission investigation and would cooperate fully. “We take pricing and promotion accuracy and integrity very seriously every day,” they said.
