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Woolworths shares price hikes are a “last resort”

Woolworths is currently under fire after numerous social media users criticized the retailer for sudden price hikes in groceries.

Shannon Alexander by Shannon Alexander
2023-01-06 08:44
in News
Woolworths shares price hikes are a “last resort"

Photo by Tara Clark on Unsplash

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Woolworths customers are currently not happy with the retailer. Here’s why shoppers are upset with price increases. 

Customers respond to price hikes

On Wednesday morning, actor Nico Panagio took to Twitter to reveal that he is parting ways with the retailer. This comes as the Survivor host found their prices to be increasingly ridiculous. 

He wrote, “Dear @WOOLWORTHS_SA been wonderful having you around – great quality (most of the time) however since you keep putting your prices up (weekly it seems), you’re gonna see us less & less. Thought I should tell you since we’ve been in a trading relationship for so very long,”

Dear @WOOLWORTHS_SA been wonderful having you around – great quality (most of the time) however since you keep putting your prices up (weekly it seems), you’re gonna see us less & less. Thought I should tell you since we’ve been in a trading relationship for so very long.

— NICO PANAGIO (@NicoPanagio) January 3, 2023

However, Nico wasn’t the only person who found it challenging to keep up with the price hikes. Many other South Africans took to Twitter to share their frustrations with the retailer. 

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@Tshimagadzo wrote, “I was shocked when I saw the R111 milk price. Sometime last year we were just tweeting how affordable everyday essentials were at woolies but now not anymore. It has become overpriced overnight. Then there are 18 eggs for R100.”

Joining the conversation, Peter Van Der Berg also noted the extremes of grocery prices. He specifically commented on the price of milk which went from R72 to R111. 

He shared, “Me too. For example, long life milk R111 for 6?! Used to be R72 then R79 then R89 now R111. Within a year. This is only one item.”

Woolworths share its side of the story

After receiving extreme criticism on their prices of groceries, Woolworths shared a statement with the public, revealing just why their prices have reached this point.

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The retailer shared, “We will only accept a price adjustment as a last resort after exploring all avenues to prevent one. Based on our long-term relationships with our partners, we work as a collective to best understand how we mitigate price increases. 

“Additionally, we track thousands of industry prices on a weekly basis to ensure Woolworths remains competitive. Several independent market price surveys on the everyday basket of items conducted in 2022 reaffirms our commitment to price, quality, and value for our customers,” 

While grocery prices have hit an all-time high, South Africans have some relief when it comes to diesel prices. As the petrol prices have come down this past Wednesday. Hopefully, this spares some extra change in our pockets.

Source: The Citizen

Tags: South AfricaWoolworths
Shannon Alexander

Shannon Alexander

Hello! I am Shannon Alexander. A writer as well as a creative. Most of my time is spent reading informative pieces in understanding where the world is at presently. I also enjoy a good crime or thriller book with a nice hot Cappuccino while delving into the world of a fictitious character. I hope you enjoy my reads!

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