Retail in Asia

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Supermarkets in Australia slash private label prices to drive sales

Coles and Woolworths have both slashed private-label prices to drive sales and convert more shoppers to their home-brand products.

Woolworths took the scalpel to its premium private-label range in the three months to the end of September, said Deutsche Bank research, slicing 9 percent off prices which Coles cut by 7 percent in the same period.

The cuts compare with some big increases in the price of branded groceries for shoppers, including a 5.7 percent jump in the price of these big name favourites at Coles. By comparison, the cost of branded groceries at Woolworths slipped by 0.8 percent.