ALDI has consistently been viewed as the supermarket chain offering the best value for money, according to the latest data from YouGov BrandIndex.
Its Value score – a BrandIndex metric that measures the extent to which consumers think a brand offers good/poor value for money – has largely held steady from 44.0 on 14 Feb 2023 to 44.5 on 14 Feb 2024.
In contrast, Coles and Woolworths are seen as providing much poorer value for money compared to a year ago. Value scores for Coles have plunged 19.4 points over the past year, from 36.2 on 14 Feb 2023 to 16.8 on 14 Feb 2024, and 21.1 points for Woolworths, from 37.6 on 14 Feb 2023 to 16.5 on 14 Feb 2024. Both retailers’ Value scores have been on a downward trend since September last year.
IGA’s Value score declined, less dramatically, from 14.1 to 10.9 during the same period.
The data, which comes amidst allegations of price gouging by major supermarkets and rising cost of living concerns, also reveals that while perceptions are changing, shopping habits are not.
Despite the increasingly negative perception of Coles and Woolworths’ value for money, they remain the top two supermarkets that most Aussies have purchased from in the past three months. As of 14 Feb 2024, Woolworths (71%) and Coles (66.9%) have the largest share of current customers – well ahead of ALDI (47.4%) and IGA (30.1%).
The Senate inquiry into price setting practices and market power of major supermarkets is underway, with a final report expected to be presented on 7 May 2024.