FairChoice will cut Australia's grocery expenditure by as much as $2500 per household per year. The platform under development will empower consumers to buy groceries from any of the online grocery retailers at the cheapest price available. It's estimated that Australia's two largest retailers, Woolworths and Coles, enjoy 70 percent of the national groceries market. This is greater than the two largest chains in the UK (who have 48 percent) and in the United States where the two largest retailers have only 20 percent market share.
At the supplier end of the grocery cycle, the National Farmers' Federation estimates that Australian farmers get as little as five percent of the retail price of fruit and vegetables. Milk is selling cheaper than water and farmers are suffering. Meanwhile Australia's grocery prices have risen over 40 percent in a decade - well above the OECD average for developed nations.
FairChoice principals will embark on a campaign to encourage if not force the major retailers to release their barcode data in order that the platform can operate and bring relief to Australia's beleaguered households. A protracted battle is expected.