Chemist Warehouse customers warned of potential price rise following merger | Yahoo Australia

Subscribe and turn on notifications🔔 : https://buff.ly/3F6ZiLt | Chemist Warehouse customers are being warned of a potential price rise.

The ACCC revealed it will not be opposing the merger between Sigma Healthcare and Chemist Warehouse, claiming they don’t believe the deal will negatively impact the industry.

However, experts told Yahoo Finance that customers could be hit with higher prices as a result of the amalgamation.

We’ve seen what a lack of competition in the supermarket industry has done with Coles and Woolworths’ dominance, and expert Angel Zhong is worried the pharmacy merger could have a similar impact.

She said, “When competition lessons, it means you are less stressed… you are less motivated to provide better services and you’re less motivated to reduce your prices to attract customers because you now have a larger degree of bargaining power.”

However, Motley Fool’s chief investment officer Scott Phillips said it could be a win for consumers in the short-term, saying “I wouldn’t be at all surprised if consumers get a better deal from Chemist Warehouse in the next few years, because they’re going to get bigger”.

Although, Phillips added that in the long term, there could be an opposite reaction. He said, “I suspect that we will look back and rue the fact we let another industry consolidate to the point of having excess market power.”

Read more: https://au.finance.yahoo.com/news/chemist-warehouse-price-rise-warning-after-88-billon-deal-greenlit-we-will-rue-this-day-024339502.html

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