Woolies and Coles have emerged from the panic buying era with impressive consumer trust scores so Hass off to them

After years of empty shelves, Woolies and Coles are still some of Australia's most trusted brands.

What's the key learning?

Retailers need to balance keeping customers happy with low prices, and keeping shareholders happy with profits.
Woolies and Coles are doing this well at the moment.

👉 Background: Retail sales are experiencing more of an uptick than searches for that tragic video of Kendall Jenner trying to cut a cucumber 🥒. Retail turnover is up 9.4% compared to March last year, ABS data shows.

👉 What happened: The boom is largely thanks to inflation-driven price increases... But despite rising prices, Woolies and Coles were the top two most-trusted brands in Oz as of March.

👉 What else: On the other hand, Westpac, CBA and Shell experienced rising distrust. The question is, what'll happen as inflation continues to rise?

🔔 What's the key learning?

💡 Rising inflation is posing a unique challenge for businesses.

💡 On the one hand, they need to increase their prices to protect their profits and deliver to shareholders. On the other side, they also want to maintain or grow trust.

💡So far, businesses like Woolies and Coles (who provide essential services) have managed to toe the line. But with interest rate rises being passed on to customers... banks haven't fared so well.

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Woolies and Coles have emerged from the panic buying era with impressive consumer trust scores so Hass off to them

What's the key learning?

🔔 What's the key learning?

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