Aussie retail spending dominated by Coles and Woolworths

By Mozo ·

Nearly 40 per cent of retail spending in Australia goes to either Coles or Woolworths, recent figures have revealed.

The data compiled for the Sunday Mail revealed that $94.3 billion in retail sales, some of which may have been paid for using credit cards, went to the organisations in 2010.

Among the companies under the Woolworths umbrella are Caltex, Liquor Woolworths, Dick Smith, Tandy, Big W and Thomas Dux Grocer.

Coles' firms include Bi-Lo, Talbot Hotel Group, Vintage Cellars, and Bunnings Warehouse.

Andrew McLennan, retail analyst at the Commonwealth Bank, commented: "Almost 40 cents in every dollar we spend at the shops is now taken by a Woolworths or Wesfarmers-owned retail entity."

According to figures from the Westpac-Melbourne Institute Index of Consumer Sentiment, there was a 1.2 per cent rise in spending this month, with increases recorded in the clothing, footwear and books sectors.

People hoping to reduce the amount they have to pay back on their plastic may benefit from heading online to compare credit cards to find a cheaper rate.

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