Coles issues an apology for breaching its commitment to price-lock guarantees, deeming the situation “unacceptable.”

Coles, the supermarket giant, faces accusations of letting down customers by acknowledging a breach of its price-lock commitment, confessing to raising prices on items it had pledged to keep unchanged. The grocery chain has issued an apology and plans to reimburse thousands of affected customers, attributing the incident to an “error” that led to price increases on 20 items. Consumer group Choice criticized Coles, asserting that compensation was only initiated after the group lodged a complaint with the consumer watchdog regarding the elevated prices. Coles’ failure to uphold its pricing assurances amid a cost-of-living crisis was deemed “unacceptable” by Choice’s Deputy Director of Campaigns, Andrew Kelly. He highlighted the irony of Coles receiving a Shonky Award earlier in the year while claiming to address the cost-of-living crisis but allegedly failing to honor pricing commitments. Coles had previously pledged to “lock” prices on a selection of popular items as part of a marketing strategy targeting financially strained families. However, a spokesperson for the supermarket attributed the price hikes to inadvertent errors occurring before the specified lock period concluded. The spokesperson acknowledged the significant focus on the cost of living for their customers and expressed the company’s awareness of the issue.

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