Latest news with #JonDuffy

RNZ News
a day ago
- Business
- RNZ News
Supermarket owner faces legal action over alleged cartel conduct
business crime 21 minutes ago The owner of New World and Pak'nSave supermarkets in the North Island is facing legal action over alleged cartel conduct regarding the supply of products to a hospitality customer. Consumer New Zealand chief executive Jon Duffy spoke to Charlotte Cook.

RNZ News
01-07-2025
- Business
- RNZ News
Consumer NZ to launch campaign looking into supermarket pricing
A photo of a pound of butter being sold for more than $18 has proved a lightening rod for shoppers concerns about food prices. The Consumer NZ post about the mainland semi soft butter in a tub has got more than 3,500 comments in the past 24 hours, with many people asking if that the price was accurate. Consumer NZ is about to launch a campaign looking at pricing and promotional practices of supermarkets - as well as penalties for breaches under the Fair Trading Act. Consumer NZ chief executive, Jon Duffy spoke to Lisa Owen. Tags: To embed this content on your own webpage, cut and paste the following: See terms of use.

1News
25-06-2025
- Business
- 1News
Two Pak'nSave supermarkets plead guilty to Fair Trading Act breaches
Two Pak'nSave supermarkets have pleaded guilty to breaching the Fair Trading Act. The Commerce Commission said it filed charges against Pak'nSave Silverdale and Pak'nSave Mill St in the Auckland District Court. It said the stores used inaccurate pricing and misleading specials that might have breached the Fair Trading Act. Pak'nSave Silverdale entered guilty pleas on seven charges and was remanded without plea on three further charges. Pak'nSave Mill St entered guilty pleas on four charges and was remanded without plea on four further charges. ADVERTISEMENT The maximum penalty for breaches of the Fair Trading Act is $600,000 for a business, per offence. The Commerce Commission said it could not comment further while the case was before the courts. Consumer NZ chief executive Jon Duffy said he was pleased to see the issue getting traction. "Consumers deserve clear, honest information when making purchasing decisions. Misleading pricing not only erodes trust, but it also unfairly disadvantages shoppers amidst an ongoing cost of living crisis," he said. "We urge all supermarkets and retailers to take this as a wake-up call: Misleading promotions and systemic pricing are unacceptable." Duffy said Consumer NZ would continue to monitor the supermarket sector closely. He said work was being done to "sort out supermarkets" as two-thirds of shoppers reported regularly noticing pricing errors. "We understand that more investigations are underway, and we really hope to see meaningful action as a result of our complaint and the commission's work." ADVERTISEMENT


Scoop
14-05-2025
- Business
- Scoop
Smaller Banks Pack A Punch: Consumer's Best And Worst Banks In 2025
Press Release – Consumer NZ The Co-operative Bank has taken out the top spot in Consumers latest banking satisfaction survey, earning a customer satisfaction score of 77%. At the other end of the scale, ANZ the countrys largest bank scored just 57%. The average satisfaction … The Co-operative Bank has topped the rankings for customer satisfaction, while ANZ finished at the bottom, according to Consumer NZ's latest independent survey of New Zealand banking customers. The Co-operative Bank has taken out the top spot in Consumer's latest banking satisfaction survey, earning a customer satisfaction score of 77%. At the other end of the scale, ANZ – the country's largest bank – scored just 57%. The average satisfaction score across all banks was 64%. 'This is the fourth year in a row that The Co-operative Bank has won our People's Choice award,' says Jon Duffy, CEO of Consumer NZ. 'It's an impressive result, especially considering its market share – less than 1%. 'Bigger is not necessarily better. ANZ is New Zealand's most profitable bank, with the biggest market share, but when it comes to customer satisfaction, it finished bottom of our survey. Consumer's annual independent survey measures customer satisfaction across 17 areas, including trust, value for money, digital banking, and customer service. Don't bank on the big banks Duffy notes this year's survey results come amid persistent concerns about the state of competition in New Zealand's banking sector and the ever-present threat of scams. Our survey also found that more than 1 in 5 New Zealanders have fallen victim to a scam that has involved their bank account or a financial service. While some progress has been made by banks to address scams – following pressure from central government and advocates for banks to increase efforts to protect customers – New Zealand still lags behind other countries when it comes to banking technology. 'The pace of innovation in the sector has been glacial. Technologies like comprehensive open banking and real-time payments that could save consumers money and keep us safe are still on the 'to do' list for banks,' says Duffy. 'Our research also shows fewer than 3% of New Zealanders switch banks each year – one of the lowest switching rates of any service sector we monitor. 'Low switching rates and low satisfaction scores – particularly among banks with the biggest customer bases – is never a good sign for consumers. Banks are yet to deliver improvements to their switching services, as recommended by the Commerce Commission's market study to improve competition in the sector. 'This is why we publish our annual satisfaction surveys. We strongly encourage people to do their homework and switch to a bank with higher customer satisfaction. It's easier than you might think and a powerful way to foster competition so that we can collectively raise the bar,' says Duffy. Key findings from Consumer's 2025 banking satisfaction survey The Co-operative Bank achieved the highest overall satisfaction score (77%) delivering consistent, above-average experiences across the board, particularly around digital banking, savings interest rates, and advice ANZ scored the lowest customer satisfaction rating (57%), with particularly low scores for interest on savings, fees, responsible lending, advice and overall value for money Consumer says the 20-point gap between the survey's top and bottom performers highlights just how much customer experience can differ between banks. The full survey results (paywalled) and methodology are available on Consumer's website: Best and worst banks in 2025. Note: Our data is from a nationally representative survey of 1,920 New Zealanders, aged 18 years and older, conducted online in February 2025 Ratings cover satisfaction across 17 key service areas. Satisfaction ratings show the proportion of respondents who scored their provider 8, 9 or 10 on a scale from 0 (very dissatisfied) to 10 (very satisfied). Market share is based on the latest figures from the Banking Ombudsman Scheme Dashboard. Annual profit before tax figures are from each bank's latest financial disclosures.


Scoop
13-05-2025
- Business
- Scoop
Smaller Banks Pack A Punch: Consumer's Best And Worst Banks In 2025
The Co-operative Bank has topped the rankings for customer satisfaction, while ANZ finished at the bottom, according to Consumer NZ's latest independent survey of New Zealand banking customers. The Co-operative Bank has taken out the top spot in Consumer's latest banking satisfaction survey, earning a customer satisfaction score of 77%. At the other end of the scale, ANZ – the country's largest bank – scored just 57%. The average satisfaction score across all banks was 64%. 'This is the fourth year in a row that The Co-operative Bank has won our People's Choice award,' says Jon Duffy, CEO of Consumer NZ. 'It's an impressive result, especially considering its market share – less than 1%. 'Bigger is not necessarily better. ANZ is New Zealand's most profitable bank, with the biggest market share, but when it comes to customer satisfaction, it finished bottom of our survey. Consumer's annual independent survey measures customer satisfaction across 17 areas, including trust, value for money, digital banking, and customer service. Don't bank on the big banks Duffy notes this year's survey results come amid persistent concerns about the state of competition in New Zealand's banking sector and the ever-present threat of scams. Our survey also found that more than 1 in 5 New Zealanders have fallen victim to a scam that has involved their bank account or a financial service. While some progress has been made by banks to address scams – following pressure from central government and advocates for banks to increase efforts to protect customers – New Zealand still lags behind other countries when it comes to banking technology. 'The pace of innovation in the sector has been glacial. Technologies like comprehensive open banking and real-time payments that could save consumers money and keep us safe are still on the 'to do' list for banks,' says Duffy. 'Our research also shows fewer than 3% of New Zealanders switch banks each year – one of the lowest switching rates of any service sector we monitor. 'Low switching rates and low satisfaction scores – particularly among banks with the biggest customer bases - is never a good sign for consumers. Banks are yet to deliver improvements to their switching services, as recommended by the Commerce Commission's market study to improve competition in the sector. "This is why we publish our annual satisfaction surveys. We strongly encourage people to do their homework and switch to a bank with higher customer satisfaction. It's easier than you might think and a powerful way to foster competition so that we can collectively raise the bar,' says Duffy. Key findings from Consumer's 2025 banking satisfaction survey The Co-operative Bank achieved the highest overall satisfaction score (77%) delivering consistent, above-average experiences across the board, particularly around digital banking, savings interest rates, and advice ANZ scored the lowest customer satisfaction rating (57%), with particularly low scores for interest on savings, fees, responsible lending, advice and overall value for money Consumer says the 20-point gap between the survey's top and bottom performers highlights just how much customer experience can differ between banks. The full survey results (paywalled) and methodology are available on Consumer's website: Best and worst banks in 2025. Note: Our data is from a nationally representative survey of 1,920 New Zealanders, aged 18 years and older, conducted online in February 2025 Ratings cover satisfaction across 17 key service areas. Satisfaction ratings show the proportion of respondents who scored their provider 8, 9 or 10 on a scale from 0 (very dissatisfied) to 10 (very satisfied). Market share is based on the latest figures from the Banking Ombudsman Scheme Dashboard. Annual profit before tax figures are from each bank's latest financial disclosures.