Yes it has now become a recognised phenomenon and is being studied and possible solutions explored. However, what the supermarkets are doing about it is minimal in the great scheme of things.
For most families, the cheaper they can buy their food the better, so the supermarket way is great for them, and they don't want it to change....and who can blame them? The difficulty though is allowing the producers themselves to make a living wage. It is nearly always cheaper to source produce from overseas, which goes a long way towards explaining why so much of our food is not home-produced. Here, we have much higher welfare standards for animals and workers than many countries abroad, but those higher standards come at a price. Only those with a surplus of income can afford to choose the more expensive item above the cheaper, even if ethically and nutritionally the more expensive item wins out.
You can get into the rights and wrongs of shareholders wanting the best returns, but we are bordering on the political here, which is verboten on TAS.