Coles faces court over fake discounts

Coles in court over fake discounts, the simple money question one in four Aussies can't answer, and why good money management could boost your love life. Here are five things you may have missed this week.

ACCC takes Coles to court over fake discounts

It's the court case all Aussies will watch with interest.

In one corner is consumer watchdog - the Australian Competition and Consumer Commission (ACCC), and in the other, is grocery giant Coles.

The ACCC claims Coles promoted fake discounts as part of its "Down Down" promotions, jacking up the price of products, then advertising discounts, when in fact the same item cost more than the original price.

In court, the ACCC raised the example of Nature's Gift 1.2 kg Adult Wet Dog Food Loaf, which had been priced at $4 for around 300 days until early 2023. Coles then upped the price to $6 for just seven days before declaring a "Down Down" discount, when it cut the price to $4.50 - 50 cents more than a week earlier.

This certainly doesn't pass the pub test. And by law, items must be available at the first price for a 'reasonable' period before retailers can declare shoppers will score a discount through a lower price.

Andy Kelly, director of campaigns and communications at consumer group CHOICE welcomes the ACCC's legal action against Coles.

"We know from our extensive work in this area that supermarket promotions can be highly confusing for customers, and have a significant influence on how people make purchasing decisions while grocery shopping," says Kelly.

"During a cost of living crisis, retailers should be doing all they can to ensure clear, transparent pricing - not obscuring rising prices with confusing promotions.

"This court case is not only a wake-up call for Coles, but for other retailers who may be engaging in similar practices."

If the ACCC is successful, not only would Coles potentially face significant financial penalties, but other retailers would be put on notice that engaging in similar confusing pricing tactics could be illegal.

The money question one in four Aussies can't answer

"What's your super fund?"

It's a simple enough question. But research by the Super Members Council shows one in four (26%) Australians cannot answer off the top of their heads.

Among those who do know, about a third rarely check their super balances or only do so once a year.

The Council has modelled the financial benefits of being more engaged with your super.

It found, for example, that paying 1% more in fees could mean missing out on $128,000 at retirement.

Previous research by the Council found young Australians who better understand their super are six times more likely to take action to improve their retirement savings.

"If you're not checking your super regularly or if you're not engaged with it, it may be that you miss out on thousands or even tens of thousands of dollars by retirement," says Council chief executive Misha Schubert.

1.5 million Aussies have ghosted a date due to financial incompatibility

Forget 'she's just not into you'.

It could be a case of 'she's not into your financial management'.

New research from ING, reveals a staggering 1.5 million Aussies have ghosted a potential romantic partner after discovering their financial values didn't match their own.

It turns out, for many, financial harmony is the new language of love.

Nearly two in five (39%) Aussies say money matters are just as crucial as emotional connection when seeking a relationship partner.

Nearly half of Millennials (48%) and more than two in five Gen Z adults (43%) are making financial compatibility a non-negotiable on their dating checklists.

Cupid's arrow now comes with a financial literacy clause, with 17% broaching money matters within the first three dates.

Matt Bowen, ING's head of consumer and market insights, says, "Money talks don't have to be mood killers. In fact, they could be the start of a beautiful, financially healthy relationship."

A quarter of first home buyers unsure about 5% Deposit Scheme

There's been plenty of buzz around the federal government's expanded 5% Deposit Scheme, which came into effect on October 1, 2025.

But some first time buyers could be missing out unnecessarily.

A survey by Mortgage Choice found a quarter of prospective first-timers don't know if they are eligible for the 5% Deposit Scheme.

Mortgage Choice CEO Anthony Waldron says this highlights the importance of getting expert advice, especially if you're navigating the property market for the first time.

A mortgage broker, or lender, can let first home buyers know if they are eligible for the scheme. Or head to the Housing Australia website for full details.

The impact of the revamped 5% Deposit Scheme, which allows buyers to get started with as little as 5% deposit and no lenders mortgage insurance, is undeniable.

Mortgage Choice says 28% of prospective first-time buyers say the expanded Scheme brought their plans forward, and 7% saying it has enabled a purchase they weren't previously planning.

One in four Aussies have dealt with a dodgy real estate agent

Buying or selling a home is a serious undertaking, and thankfully something most of us do only a few times in our lifetime.

But according to Finder research, 27% of Australians say they've witnessed questionable - and in some cases illegal - behaviour from real estate agents during a property sale or auction.

The most common dodgy behaviours include inflating price expectations to secure listings (10%), significant underquoting (9%), and agents lying to buyers about other offers (phantom offers - 8%).

Graham Cooke, head of consumer research at Finder, says the findings show buyers can't afford to blindly trust what they're told - especially in a competitive market.

"Buying a home is the biggest purchase most Australians will ever make, yet many walk into negotiations where the deck is stacked against them," observes Cooke.

"As anyone who's attended an auction in Australia will tell you, agent guide prices are often a fantasy designed to push as many buyers as possible into the system."

Cooke urges buyers to independently verify claims made by agents and never rely solely on price guides or verbal assurances.

He adds, "In my experience in the Sydney property market, I've seen dishonest guide prices, fantasy bidders, and outright lies about developer's intentions.

"If something doesn't feel right, it probably isn't. Do your own research, get independent inspections and remember the agent is legally working for the seller, not you (the buyer)."

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