Underpayment scandal hits supermarket profits
Coles supermarket CEO Leah Weckert stated that the company is shifting away from toy-based collectables to focus on functional items to drive customer loyalty. This follows a period of moderated sales attributed to a successful rival campaign by Woolworths.
Why it matters
Supermarket loyalty programs are a major driver of retail competition and consumer spending habits in Australia.
— 9:58am , first published 9:10am
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Share A A A Coles won’t rely on plastic Spider-Man and Hulk figurines to boost its business, saying its future collectables will be more functional than fun as the supermarket giant claws back sales lost to rival Woolworths’ wildly successful Ooshies campaign.
Coles chief executive Leah Weckert conceded the nation’s second-biggest supermarket chain had a “temporary moderation” in sales after Woolworths launched its collectable collaboration with Disney, which sold out before the weekend it was due to conclude .
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