The term is mainly used negatively when referring to the perceived duopoly Coles and Woolies hold in Australia. 

Mark Gwynn, Senior Researcher at the National Dictionary Centre, said that although the word has been around for years, it has recently gained popularity with increased resentment towards the major supermarkets over cost of living pressures.  

"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," Mr Gwynn 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." 

Each year, The Australian National Dictionary Centre, based at the Australian National University, selects a word or expression that has become increasingly popular in the past 12 months. 

This year's other shortlisted words and terms included breaking, ute tax, climate trigger and YIMBY.