Excess profits mean you pay more than you should at the checkout.
New Zealanders deserve better but the Commerce Commission’s recommendations don’t go far enough.
We need more competition to drive down prices and give consumers better choices.
With more and more New Zealanders struggling with the rising cost of groceries, the major supermarkets' excessive profits are a slap in the face.
We're calling on Minister David Clark to act now to create more competition, make profits fair and lower grocery prices for New Zealanders.
We need your support to make this happen. There’s power in numbers and we need to convince the Government to take action.
Sign our petition and share with your family and friends to #stopthesuperprofits.
But it's the major supermarkets making super profits that dominate wholesale supply. The Commerce Commission has recommended the supermarkets consider supplying other retailers, but we don’t think this will fix the problem.
We want the Minister to look into regulating access to wholesale supply or setting up a state-owned wholesaler.
Regulating access to wholesale supply would:
- break the stranglehold the big supermarkets have on the market;
- allow new entrants and existing players fair and secure access to wholesale groceries; and
- allow real competition on price and service at the supermarkets.
A state-owned wholesaler would:
- create an independent source of wholesale groceries;
- allow fair access at reasonable prices for new entrants and smaller players;
- treat suppliers fairly, allowing local supply to flourish;
- reduce New Zealand’s vulnerability to global supply chain volatility;
- promote greater choice for consumers; and
- accelerate sustainability in supply chains, in line with Government climate objectives.
You can read more in our open letter to Minister David Clark about the supermarket sector.
The major supermarkets are making $1 million a day in excess profits, according to the Commerce Commission's profitability assessment. Inflation aside, those profits are hitting New Zealand households.
Correction: Consumer NZ previously stated that excess supermarket profits are costing New Zealanders an extra $1000-$1200 per household, per year. We regret that an incorrect profitability measure was applied to calculate this figure which made it inaccurate. We apologise for any confusion caused.