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New Zealand supermarkets operate as 'duopoly,' lack competition, regulator says

( July 28, 2021, 21:00 GMT | Official Statement) -- MLex Summary: Major New Zealand supermarket operators Woolworths New Zealand and Foodstuffs operate as a duopoly with a few fringe competitors in an industry that isn't working well for consumers, the country's regulator said. In a draft report as part of its year-long probe due to wrap up in November, the New Zealand Commerce Commission said high profitability between the two major retailers is slowing innovation that would benefit consumers and is increasing barriers for market entry. A final report is due Nov. 23.Full statement from the New Zealand Commerce Commission follows: ...

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