In a sign that cost of living pressures are biting everyone, the Australian National University (ANU) has awarded its annual Word of the Year for 2024 to ‘Colesworth’ the portmanteau of the two most dominant supermarket chains in Australia, Coles and Woolworths.
You’ve probably heard the term for the supermarket duopoly in a negative light, as its usually used in reference to their stranglehold on Australian grocery prices and supply. The term has actually been around for a few years, ANU senior researcher Mark Gwynn says it has gained prominence in the past 12 months as Aussies vent their frustration at the cost of living.
“Aussies walk out of the supermarket with less after paying more, but then hear news of massive profits in the supermarket sector. And with official investigations into some of the pricing practices at Australia’s two largest supermarkets, it’s no wonder that ordinary shoppers have become cynical,” Mr Gwynn says.
“The blend of the supermarket names Coles and Woolworths into Colesworth provides a succinct way of referring to both supermarkets while at the same time hinting at the negative aspects of what is perceived as an unfair duopoly.”
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