**Coles accused of using discounts to hide price hikes | The Business | ABC NEWS โ€” Transcript & SRT | SozAI** Source: https://sozai.app/transcript/coles-accused-of-using-discounts-to-hide-price-hikes-transcript/ ## Full Transcript โ€” Download SRT & Markdown 00:02 Speaker A Down, down, prices are down. 00:03 Speaker B Instantly recognizable and under fire. 00:08 Speaker B This fame slogan is being scrutinized in court with the consumer watchdog claiming that Coles promoted fake discounts. 00:16 Speaker Allan Fels It's the case of the century, the ACCC will certainly be feeling nervous. 00:22 Speaker Allan Fels As would Coles. 00:24 Speaker B The ACCC started investigating Coles and Woolworths when grocery prices were surging. 00:29 Speaker B The watchdog was partially tipped off by savvy shoppers comparing supermarkets. 00:34 Speaker Paniora Nukunuku Looks similar, corned beef though. 00:37 Speaker Paniora Nukunuku The price of corned beef got me so riled up is because corned beef in my opinion is an item that should be staple, affordable, cheap. 00:43 Speaker B The ACCC investigated more than 200 down-down products. 00:48 Speaker B 12 items are being scrutinized in court with the ACCC's lawyer alleging a tin of Nature's Gift dog food. 00:53 Speaker B Sold for $4 for 296 days, was jacked up to $6 for one week, then dropped to $4.50 claiming a down-down promotion. 01:07 Speaker B For Arnott's Shapes, a box was sold for $5 for 344 days. 01:10 Speaker B Increased to $6.50 for 28 days, and then slashed to $5.50, 10% higher than the original price. 01:19 Speaker Prof. Jeannie Paterson The argument of the ACCC is that's an illusory discount that people were misled. 01:25 Speaker Prof. Jeannie Paterson Into thinking it was a genuine discount. 01:29 Speaker Garry Rich SC Not fair dinkum. 01:30 Speaker B That is not fair dinkum. 01:32 Speaker B The ACCC's counsel said. 01:34 Speaker Garry Rich SC Coles prices were not down, they were up. 01:38 Speaker B Coles denies the allegations. 01:40 Speaker B The supermarket's top lawyer argued its promotions are genuine, not illusory, and justified due to inflation. 01:47 Speaker B With suppliers pushing for price increases. 01:50 Speaker Prof. Jeannie Paterson Coles's case sits on the fine print. 01:54 Speaker Prof. Jeannie Paterson I'd say that with the down-down campaign. 01:57 Speaker Prof. Jeannie Paterson People weren't reading the fine print. 01:59 Speaker Emilia Terzon Coles is facing a fine of more than $100 million, experts say, or even higher if the ACCC proves it intentionally misled its own customers. 02:07 Speaker B As well as fines, Coles's reputation is on the line. 02:10 Speaker B Trust in supermarkets is already diving. 02:13 Speaker C Even if they say like down, down, I'm, I just don't consider that a special. 02:19 Speaker B Woolworths will no doubt be watching closely. 02:22 Speaker B It's also facing similar action from the ACCC in April. Study this video - [Flashcards from this video](https://sozai.app/tools/ai-flashcard-generator/?from=transcript&id=11018) - [Quiz on this video](https://sozai.app/tools/quiz-generator/?from=transcript&id=11018) - [Summary of this video](https://sozai.app/youtube-video-summarizer/?from=transcript&id=11018) Free, made by AI from this transcript. No signup. --- This is the markdown twin of https://sozai.app/transcript/coles-accused-of-using-discounts-to-hide-price-hikes-transcript/ โ€” the same content, without the markup. Published by SozAI (https://sozai.app). Reuse and quotation are allowed with attribution and a link back. Machine-readable index: https://sozai.app/llms.txt ยท data API: https://sozai.app/api/