Even factoring the scale of the business, 2.5% is a tight margin. Most local businesses couldn't compete at scale on cost. Partially why the only remaining small grocers compete on higher quality (and higher margin) fresh local produce.
Everybody is hating on Coles and Woolies at the moment. Terrible maths, but... $1bn of profit is ~$3.75 on the average ($150) weekly shop. That's a terrible margin.
@twistieman I'm not convinced people are actually going to follow through and leave for good. If we stick around through the rebrand, I reckon we're not leaving...
@DoctorKarl They are energy and hydration drinks owned by an instagram influencer who's popular with young kids/teens. The energy drink version is criticised for having 200mg caffeine per 330ml can. https://t.co/DuCxdBTku9
@hapticmusing There's a lot of places in Sydney like this. One that comes to mind is Corner of George and McEvoy where the Gov apartment blocks meet $1.5M apartments. Or Portman lane in Zetland.
"Every line of code being written in AI today is to beat the other guy, it's not to improve the life of the third party". - Mo Gawdat
Like any category disrupting technology, AI is an arms race. We're letting companies blindly develop potentially broadly destructive things.