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Today, iconic luxury foods such as champagne, foie gras, and smoked salmon are predominantly distributed through supermarkets and hypermarkets.

Urban development and industrial zones encroach on highly mechanized farms abutting deserted villages where small stores have been crushed by hypermarkets that offer cheaper imported meat and produce.

For those looking for a new mortgage, the current situation is like shopping in a hypermarket, but where everything on the shelf is soon going out of date.

It also slashed its 2023 earnings outlook for France, saying investment required to fund price cuts to boost customer traffic and volume in its supermarkets and hypermarkets would weigh on profit.

Ackerman was known for his many campaigns against monopolies and price-fixing in his active retail days and also introducing the hypermarket concept to South Africa.