A spokeswoman for Foodstuffs – which operates New World, Four Square, Pak n Save and On The Spot convenience stores – said the company s owner-operator model required each supermarket to be financially viable as a standalone business. “Due to the challenges associated with attracting customers back to the Redcliffs store following the earthquakes, Foodstuffs South Island purchased and managed the store with a view to rebuilding the turnover.
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The coastal suburb of Redcliffs will be without a local supermarket. “Store management is considered an unusual move for the co-operative and not one that is sustainable for the long-term.” Tim Donaldson, general manager retail for Foodstuffs South Island, said it was a difficult decision to make.
Reserve Bank data shows general inflation of 12.8 per cent over the period. When the alcohol was removed from the list, the groceries in 2011 cost $149.43, while in 2020 the same products cost $164.23, an increase of 9 per cent.
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Consumers believe food prices have spiked but it s more of a slow climb, one economist says. The price comparison surprised him. “I thought that the increase should have been more,” he said. The shopping included items such as pasta, pasta sauce, milk and cheese as well as wine and beer but didn’t include fresh vegetables and meat. Huy said he and his wife Bruni Gebauer-Huy tried to buy fresh products and bread at local markets and specialist stores.