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More than 40 per cent of Australians have changed their grocery shopping habits following the ACCC inquiry into supermarket pricing, which was launched last year before the findings were released overnight.
According to research from Canstar Blue, consumers are now more cautious than ever when shopping at major supermarkets, with 17 per cent admitting they're shopping at them less frequently.
This comes after the report revealed that Woolworths and Coles are among the most profitable supermarkets in the world.
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The consumer watchdog found grocery prices have jumped 24 per cent in five years and criticised supermarkets for not passing on savings to customers, although it stopped short of labelling them a "duopoly" or accusing them of price gouging.
According to the watchdog, Woolworths controls 38 per cent of grocery sales nationally, Coles has 29 per cent, while Aldi has 9 per cent and independent supermarkets have 7 per cent.
Canstar Blue spokesperson Eden Radford said just 36 per cent of Australians admitted that inquiry didn't change how they shopped.
"(The) survey has shown that while just over a third of shoppers didn't seem to bat an eyelid over the inquiry's findings, almost a quarter believed it was enough to take a critical eye over any promotions they saw, and enough for 17 per cent of Aussies to take their shopping list elsewhere," she said.
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In its 400-plus-page report released today, the ACCC called for action on shrinkflation, price transparency, confusing promotions, zoning laws and a range of supplier protections but didn't recommend more extreme actions such as breaking up of companies or fines.
Radford said it has never been more important to shop around and compare prices to find where you can get a better deal.
"While plenty of us may have been shocked by what the ACCC inquiry revealed, it did serve as a great reminder that the only way to know you truly are getting a good deal is by knowing your prices and shopping around," she said.
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