Woolworths CEO Brad Banducci's heated interview on pricing practices

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Now realise this happens in every industry across the country.

It’s great that we’re focusing on supermarkets, but we need to tackle the whole capitalist system itself if we want to fix the problem.
- We are not going to abandon or even temper capitalism I am afraid. The fact is we are a tiny and relatively poor country at the edge of the world. We have to come face to face with that.
  
  We’re not relatively poor. Where did you get that from?
  
  https://www.dfat.gov.au/sites/default/files/australia-is-a-top-20-country-all-topics.pdf
Chefs kiss, make the arsehole squirm. The pressure he has put Australians under for profits makes me want to see him suffer.

Time to dismantle their concentrated power
- I just don't know what the solution is. I guess you could force them to break up somehow but whichever entity is smaller is probably not going to be able to compete.
  
  We have a big four supermarkets in the UK, plus another four or five second tier chains, and they still managed to bury the hatchet long enough to pull this shit on consumers, blaming gas prices, and then announce record profits.
This is amazing...
That is quite interesting.

It is worse in NZ as we have only two supermarkets and very little in the way of independent competition.
- We are too small to support a lot of competition in any market.
Just watched it, it was hardly "heated". It felt super awkward. It wasn't like getting angry storming out, just I don't know what to say so I think we're done.

13 comments