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Market
Will Coles and Woolworths reach a settlement with ACCC by March 31, 2025?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Official announcements from ACCC, Coles, or Woolworths
Story
ACCC Sues Coles and Woolworths in Federal Court Over Misleading Discount Claims, Seeks Multi-Million Dollar Penalties
Sep 23, 2024, 02:45 AM
The Australian Competition and Consumer Commission (ACCC) has initiated legal proceedings in the Federal Court against Coles and Woolworths, the country's two largest supermarket chains, for allegedly misleading consumers with their 'Down Down' and 'Prices Dropped' discount campaigns. The ACCC claims that these promotions misled shoppers about discounts on hundreds of common supermarket products. Australian Prime Minister Anthony Albanese has commented on the seriousness of the allegations, noting that overcharging for products can impact inflation. ACCC chair Gina Cass-Gottlieb has stated that the consumer watchdog is seeking significant multi-million dollar penalties as a deterrent for future violations.
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Similar markets
ACCC wins • 33%
Coles and Woolworths win • 33%
Settlement reached • 34%
Less than $50 million • 25%
$50 million to $100 million • 25%
More than $100 million • 25%
No financial penalty • 25%
Yes • 50%
No • 50%
No changes • 25%
Minor changes • 25%
Major changes • 25%
Complete overhaul • 25%
Yes • 50%
No • 50%
