AUSTRALIA’S retail giants have long been known for their ruthless approach to selling their wares, with many arguing the Australian retail sector is an unfair game in which their bottom line is at risk.
But now the Australian Competition and Consumer Commission has issued a damning report, accusing the world’s largest retailers of engaging in a “sales culture” that threatens the lives of consumers.
The ACCC report found that some retailers are taking advantage of vulnerable consumers to drive down the price of their goods, while others have been accused of exploiting low wages.
It says the companies are “selling” low-quality products in order to “generate a profit” and that retailers should be held accountable for their actions.
“The conduct of retailers is predatory, it’s abusive, it threatens the health of Australian consumers, and it undermines our trust in our consumer-driven economy,” ACCC Commissioner Greg Hunt said.
“These retailers are a threat to the health and wellbeing of Australians, and there is a real need to stop them.”
“In the end, these companies have little choice but to comply with their obligation to ensure that their goods are affordable to consumers, which means they need to take action to improve their supply chain and the quality of their products.”
Mr Hunt says the ACCC’s report is a call for all Australian retailers to take responsibility for their conduct.
“It’s time to say sorry to the millions of Australians who are left without a choice of where they shop or what they can afford,” he said.
The findings from the ACCS report come as Australia’s biggest retail chain, Woolworths, has faced criticism for charging consumers higher prices in a move that has been branded a “sell out”.
It has since changed its pricing structure and has said it is “actively considering” a price increase.
Topics:consumer-finance,consumer-protection,business-economics-and-fiscal-policy,consumer,federal—state-issues,australia,nsw,cairns-creek-3880,nauru,arizona-4810,texasMore stories from Australia