Grocery prices: Shoppers one major change to their baskets amid cost of living pressures

This week saw the release of Woolworths and Coles’ sales results for the third quarter of this financial year, and the results are telling.

Both retailers reported a significant increase in sales of the company’s ‘own’ brands.

With cost of living pressures continuing to impact Australian families, it is clear one of their best strategies to stretch their grocery budgets even further is to swap out their favourite brands with more affordable options.

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At Woolworths the supermarket’s ‘own’ brands include Woolworths Essentials, which encompasses a range of products from dairy to pantry staples as well as frozen goods.

Under the Coles and Coles Finest ‘own’ brands shoppers will find dairy and pantry essentials as well as treats including chocolates and other confectionary.

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My weekly grocery spend has increased from $300 to $350, and this includes purchasing a large range of supermarket ‘own’ brands unless I see branded items priced at the same or similar as part of a weekly promotion.

That includes regular visits to Aldi, which has created an entire business around ‘own’ brands, with a selective range of branded products.

I rarely buy anything full price anymore, and these budget-conscious habits are being reflected in the data released by these three supermarket retailers.

Woolworths reported “own” and “exclusive brand” sales continued to outperform this latest quarter.

Woolies sales report today stated: “Own and Exclusive Brand sales continued to outperform in the quarter with growth of 5.7%. Long Life Own Brand sales were particularly strong in value categories with 8.0% growth driven by Pantry, Frozen Foods, Snacking and Household Care.”

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The company’s Group CEO, Amanda Bardwell, cited customer’s cost of living which she said “remains a concern for customers”.

Coles reported strong own brand sales including their exclusive Coles Finest range as well as the success of their “1/2 Price” and “40% Off” promotions.

Aldi maintains strong results for it’s “Exclusive Brand” offering.

An Aldi spokesperson told 9honey the company is aware that “rising cost of living is a concern for many Aussie families, and households are making changes to their shopping habits to reduce their spend”.

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The discount supermarket has “continued to invest in our curated range of high-quality products, putting a strong focus on Exclusive Brand which account for 90 per cent of the items on our shelves”.

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“We’re seeing the results of this work, as there is consumer shift away from name brand products with more Aussies on the hunt for high quality at accessible price points.”

Supermarket shoppers have also reportedly been buying less treats, alcohol, meat and bottled water, according to Coles’ report.

Coles Group CEO Leah Weckert told media shoppers are increasingly cooking at home rather than ordering takeaway or visiting local restaurants.

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Stores across the country have also seen eager bargain hunters lining up waking for items such as rotisserie chickens, baked goods and chilled products to be marked down each day before stocking up.

Any hope grocery prices will fall are quickly being dashed.

Retail expert Gary Mortimer from Queensland University of Technology told 9News in December 2024: “Despite the inquiries that are going on, we’re not going to see food prices fall dramatically.”

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