DICK SMITH PREDICTS THE END OF SUPERMARKETS

According to Richard ‘Dick’ Smith, founder of the namesake troubled retail chain, supermarkets have their days numbered and will ‘disappear’ in ten years’ time. Smith said the price war with discounters like Aldi will force Woolworths and Coles (which currently have 80 percent market share in Australia) to get their costs down by reducing staff and product range. Aldi’s expansion, he concluded, would eventually send one or both out of business.