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Grocery Cartels.pdf

IB_2111_FoodMonoSeries1-SUPERMARKETS-V2FINAL.pdf
Preview of Grocery Cartels
🔗 Source: foodandwaterwatch.org
📊 Size: 1.07 MB
📄 Pages: 20 pages
⬇️ Downloads: 358

Summary

The COVID-19 pandemic led to record-breaking profits for the grocery industry, with major supermarket chains seeing double-digit growth and surging stock values in 2020. However, this came at a cost to Americans, who faced rising food costs and widespread shortages of staples. The pandemic highlighted the issues with the current food system, which is dominated by a few large companies. Just four companies took in an estimated two-thirds of all grocery sales in 2019, with Walmart alone accounting for $1 out of every $3 spent at grocery retailers. The rise of supercenters and supermarket chains has led to a decline in the number of grocery stores, with a roughly 30% loss from 1994 to 2019. The industry is highly concentrated, with over a third of food categories exceeding the "highly concentrated" threshold used by the US Department of Justice. This concentration has led to negative impacts on local economies, including the loss of smaller, independent businesses and lower wages for workers.

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Description

The COVID-19 pandemic led to record-breaking profits for the grocery industry, with major supermarket chains seeing double-digit growth and surging stock...

Technical Information

  • File Format: PDF
  • File Size: 1.07 MB
  • Pages: 20
  • Language: EN
  • Total Downloads: 358
  • Last Updated: 11 hours ago

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