Australian Supermarkets "UBS Supermarket Supplier Survey: 40th Ed." Cousins

Research evidence excerpt

Australian Supermarkets "UBS Supermarket Supplier Survey: 40th Ed." Cousins

Australian Supermarkets UBS Research

UBS Supermarket Supplier Survey: 40th Edition

Executive Summary

What: UBS's 40th Supermarket Supplier Survey, featuring 44 Australian FMCG

suppliers who rated Woolworths Australian Food (Woolworths) and Coles

Supermarkets (Coles) across 26 sub-categories on a scale of 1-10. We conducted this

survey from 9-Jun-26 to 29-Jun-26 (referred to as Jun-26).

Why: Since the survey started in Dec-07 it has had a ~65% correlation (72% pre

COVID) to the LFL sales growth rates of Coles vs. Woolworths. We believe the survey is

most useful in identifying turning points in retailer performance.

Figure 2: Average score of the 26 UBS Supermarket Figure 3: Relative gap between LFL sales growth & UBS

Supplier Survey sub-categories through time Supplier Survey overall rating gap*

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ge sco re of the 26 UBS S uperma rket S upplie r Surv ey sub -categ growth & UBS Suppl ier Su rvey o verall ratin g gap*

ories through time

Source: UBS Supermarket Supplier Survey Source: Company data, UBS Supermarket Supplier Survey, UBSe. * Note: Food LFL

from 1Q16 onwards (Food & Liquor previously as Food not separately disclosed)

Key takeaways from the Jun-26 survey

(1) Apr-May trading: Woolworths outperformed Coles, with

Woolworths the largest share gainer

Trading for 4Q26E (fiscal year) favoured Woolworths, in line with trade feedback. The

number of suppliers who thought Woolworths had the better Apr-May trading period

increased to 52% from 33% in Jan-26. Woolworths saw the largest share gains in the

last 6mths, with 68% suppliers noting share gains in the last 6mths, up significantly

compared to the last survey (12%).