Why Coles is slashing 2500 products from supermarket shelves

Coles slashes product choice, egg shortage leads to surcharge, and Aussie blokes to spend $162 on their Valentines. Here are five things you may have missed this week.

Coles to cut 2500 products

Ever wondered if it's really necessary for the big supermarkets to devote an entire aisle to, say, biscuits or soft drinks?

It turns out Coles executives have been asking the same question.

Coles has announced it will purge 2500 items - about 10% of its entire range - from its shelves.

The supermarket giant flagged it would be scaling back its product choice at a shareholder meeting last November, mostly with an eye to avoiding duplication.

Anna Croft, Coles' Chief Commercial Officer and Sustainability Officer points out that the supermarket has expanded its range in recent years, often to cover shortfalls in the availability of other products during the pandemic.

Coles hasn't said which products will get the chop - or if the scaling back will mean lower prices for consumers.

However, Coles releases its half-yearly profit results on February 27, and it's a fair bet a glowing result for shareholders will reignite calls for a better deal for consumers.

Egg shortage sees US restaurants introduce egg surcharge

The biggest bird flu outbreak in a decade is seeing US restaurants scramble to raise prices as the supply of eggs dries up.

One US pancake chain has ruffled feathers by introducing a 50 cents surcharge per egg to cope with the shortage, which has pushed egg prices to record highs.

Here in Australia, the price of eggs has jumped 11% in the past year.

The big supermarkets have even cracked down on the number of cartons shoppers can buy.

Fortunately, Egg Farmers Australia says the local egg shortage is only partly driven by last year's bird flu outbreaks.

High seasonal demand for eggs during the summer holidays, and the shift from cage eggs to barn laid or free-range production is also impacting supply, which is expected to increase through 2025.

It's just as well. Australians each eat an average of 266 eggs annually.

Love-struck Aussies fork out $535 million on romance

Love is in the air, with Australians expected to spend a record $535 million on Valentine's Day gifts this year.

February 14 will see around 3.8 million of us buy gifts for the special someone in our lives according to the Australian Retailers Association (ARA).

Hearts are particularly on fire among Aussie men, who are projected to spend $162 each on their Valentine, compared to $110 among women.

While the usual line-up of preferred gifts includes flowers and chocolates, one pragmatic shopper is breaking the mould, telling the ARA they will spoil their partner with a robot lawn mower, valued at $3500.

Meanwhile, the National Anti-Scam Centre  has texted more than 5000 Australians (mostly men) to warn they may have been targeted by romance scammers based in the Philippines.

The text recipients were identified following an investigation by Philippines authorities into a scam compound operating in central Manila.

Simple hacks to save up to 27% on airfares

Expedia's 2025 Air Hacks Report debunks travel myths, and offers plenty of savings tips for travellers

The report found:

• Saturday is the cheapest day to fly. Domestic holidaymakers who depart on Saturday instead of Monday can save up to 27% in fares.
• Booking airfares too far in advance can actually cost travellers. Three months out is the sweet spot for savings, when international flights can be up to 12% cheaper than booking more than five months ahead.
• Sunday is the cheapest day to book flights, with savings of up to 20% compared to booking on a Friday.
• January is the cheapest month to travel, September is the most expensive. Travelling economy in January can save travellers up to 11% on fares.

Investment scammers impersonate Bunnings

Investment watchdog ASIC is warning consumers about scammers offering fake investments by impersonating genuine businesses.

Hardware giant Bunnings has unwittingly found itself at the centre of a recent investment bond scam.

The bogus website features Bunnings branding and even includes links back through to the retailer's genuine webpage in a bid to appear legitimate.

But instead of promoting the usual Bunnings wares of tools, tradie products, flat pack kitchens and a community-friendly sausage sanger, the scam flogs 'sustainability bonds'  promising a return as high as 9%.

Even so... Bunnings selling investments? The offer is so out of kilter with Bunnings normal product range that alarm bells should start ringing.

ASIC says consumers can protect themselves from these types of impersonation scams by doing an internet search to see if there are warnings about the scam.

Get stories like this in our newsletters.