But it was still a huge shock to find out, through a Commerce Commission report this week, grocery retailers across New Zealand have been making about $1 million per day in profit.
The report has also outlined how the New Zealand supermarket industry is, unsurprisingly, ruled by a duopoly set up to ensure competitors struggle to enter the market, prices are higher compared with international standards, and profitability has been higher than expected for a period of at least five years before the Covid pandemic.
There's also an imbalance of power between the two giants and many of their suppliers.
The Commerce Commission and Government plan to address all this after reaching the conclusion the system is "not working well".
I have nothing against capitalism.
We live in a free, capitalist society where private businesses have almost free rein to compete to provide goods and services at prices customers are willing to pay, with little or no interference from the state - except where it's to make sure they're doing what they say they will.
But our grocery sector has been set up to exclude competition and create an imbalance of bargaining power with suppliers. That's not fair and it's time it changed.
Supermarkets can and should make profits because they have stakeholders to answer to, just like any other business. And it should be noted supermarkets already donate to foodbanks and other food charities.
But $1m a day?
Our social services are struggling to cater to people in need. It seems everywhere you look, prices are going up - from rents and interest rates to fuel - and many families are struggling to survive.
We are in a cost-of-living crisis. It's getting more expensive to live here. So surely supermarkets can see why such profits would not sit well with the public during these tough times.
Consumer Affairs Minister David Clark is working on solutions - including making it easier for competitors to enter the market by freeing up land, banning restrictive land covenants, monitoring land banking and introducing a regulator that would have oversight of the market and enforce a code of conduct.
These are great ideas and it's good to see something finally being done about the duopoly trap we consumers have found ourselves in.
But don't just pay lip service to our plight.
We actually need to see more competition - and genuine competition to keep prices down so they are affordable for ordinary Kiwis. And we need to see it now.
Supermarkets also need to step up their contribution to supporting Kiwis in need when it comes to staple grocery items. This is a time when they can take a social leadership role.
It is obscene supermarkets are making millions each week when children are going hungry. That's not the Kiwi way and it needs to change.
Shoppers should have the right to vote with their feet and wallets. It's time we had more choice and power when it comes to buying groceries.
