Supermarket duopoly put on notice: Government warns sector to change ‘at pace’ or face regulationThe Government says it is acting on a lack of competition in the supermarket sector and warned it to change “at pace” or face regulation. Commerce and Consumer Affairs Minister David Clark today revealed the Government’s response to the Commerce Commission’s market study into supermarkets, published in March. The Commission estimated Countdown and Foodstuffs were making excess profits of about $430 million a year – more than $1 million a day. What a disappointing nothing that has been the outcome of Labour’s spineless attempt to smash the Supermarket Duopoly. Rather than be radical and seizing 30% of the Duopoly to force market competition, Labour will take the watered down Commerce Commission recommendations and implement 12 of them.

Source: New Zealand Herald May 31, 2022 18:56 UTC