Ongoing cost-of-living pressures, combined with anger towards major supermarkets following an investigation into soaring food prices and rising profits, have influenced the 2024 Word of the Year.
The Australian National Dictionary Centre, based at the Australian National University, has chosen “Colesworth” – a blended word referencing the country’s largest supermarket chains, Coles and Woolworths.
Senior Researcher Mark Gwynn said the word was used in mostly negative contexts to highlight the power and market share of the two supermarkets.
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Although the word itself has been circulated for several years, its use has spiked over the past 12 months, according to Gwynn.
“Aussies walk out of the supermarket with less after paying more, but then hear news of massive profits in the supermarket sector. And with official investigations into some of the pricing practices at Australia’s two largest supermarkets, it’s no wonder that ordinary shoppers have become cynical,” he said.
“The blend of the supermarket names Coles and Woolworths into Colesworth provides a succinct way of referring to both supermarkets while at the same time hinting at the negative aspects of what is perceived as an unfair duopoly.”
The ACCC released its supermarket inquiry interim report in September, finding that Australia’s supermarket retailing is an oligopoly, with Coles and Woolworths together accounting for more than 67 per cent of sales.
The report detailed what the commission heard from consumers, suppliers and others at the halfway mark of a 12-month inquiry into the major supermarkets.
Australian shoppers said they were losing faith in the supermarkets and were untrusting of price claims.
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‘Raygun’ among the words shortlisted
The shortlisted words included a mix of terms referencing politics, tax, and climate change.
“Breaking” also made the shortlist, following the iconic performance by Australian artist RayGun at the Paris Olympic Games.
The performer became a worldwide sensation after breaking made its debut as an sport at the Games.
Other shortlisted words included “climate trigger,” “ute tax,” and “YIMBY” (Yes In My Backyard).
Last year ‘Matilda’ was crowned the 2023 Word of the Year.
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