Summarize this content to 2000 words in 6 paragraphs Australia’s biggest supermarkets insist the grocery sector is highly competitive and that customers benefit from a more diverse landscape.In a statement, Coles said it continued to “fiercely compete” with thousands of specialty and independent retailers including Amazon, Bunnings, Chemist Warehouse, and Priceline.LoadingAfter a report from the Australian Competition and Consumer Commission noted the big supermarket chains were among the most profitable in the world, Coles argued its net profit after tax had remained at 2.6 per cent as a percentage of sales over the last five years.“Coles welcomes any recommendations that improve transparency for suppliers and customers but cautions against measures that will increase red tape and drive up costs.”Woolworths chief executive Amanda Bardwell also claimed the sector was “very competitive,” and, like Coles, warned against any unnecessary market intervention.“Having fully co-operated with this inquiry, we will review the report and its recommendations to identify any insights to make us a better business for our customers, suppliers and communities in which we operate,” she said.
