2 ms·
Society won't gain much if a grocer keeps a steady 3% margin over base cost while capturing the increase in price instead of distributing it as part of salaries
by piva00 4y ago
Society won't gain much if a grocer keeps a steady 3% margin over base cost while capturing the increase in price instead of distributing it as part of salaries as well, don't you agree?
The record profit in figure is important when compared to employees' salaries, if those aren't increasing in proportion (as part of the cost) then the grocer owners are just increasing their wealth while impoverishing their own employees.
- phpisthebest 4y agoWell there are a few factors here, some percentage of the inflation is infact increase wages for workers at the grocer, this is what is keeping the margin the same. Here for example the 2 largest grocers are Kroger and Walmart, both have increased their wages several dollars per hour since 2019. Further I hear all the time about "food deserts" and what not, The increase raw profit could be used for many things including expanding into those area's and could even make them profitable to service. Finally they can use the money to expanding their technology, for example Kroger has invested heavily and made many awesome customer service enchantments to their mobile app, web site, and curb side pickup services (I know this because I am a weekly user of the app) All 3 of these things I consider to be good for society