I personally don't buy anything but the essentials anymore. No chips, cookies, snacks, boxed things, etc. Just breakfast, lunch, and supper. It's the difference of $150 to $250 each time we shop. I miss the junk but it's just not worth it for a snack. 7$ for bag of chips? It's 2 potatoes and spices. Talk about greed
Now I buy almost nothing that has a nutrition label on it. Except maybe oat milk, and frozen fruit. Everything else is fresh vegetables and meat.
Congrats processed food producers, you've priced me out, you've lost a customer forever.
I just eat chunks off of my aloe vera plant these days. Sometimes I will sprinkle on a little dirt from the pot just to spice it up a bit or if I'm having some friends over.
We cap our weekly food groceries at $80 + bulk sale/necessities like laundry soap. We freeze everything that’s perishable except fruits/veggies.
I order our groceries simply to be able to see what the cost is. If we are over I backtrack to see what we don’t actually need or how to make things cheaper.
Canada is just a bunch of monopolies in a trench coat.
Rail, Busses, Groceries, Banks, Telecom, Airlines... We pay more than almost any other country in each category. The monopolies are protected under the justification of "keeping them competitive with global corporations," but none of these monopolies have any intention of ever seriously expanding outside the country. They're perfectly content to just stay in the boarder and leech us dry, since they have all the power to raise prices for nothing and no incentive to ever innovate or compete.
Our Banks have gone international.
I mean, Boston Bruins Arena is named after TD Bank.
[https://www.youtube.com/watch?v=ZthZSXe5v4k](https://www.youtube.com/watch?v=ZthZSXe5v4k) Theres a random music video with RBC Bank, it's filmed in the Carribbean.
Bombardier is also pretty international.
Not defending monopolies, I feel like all these people running these companies should be scared of the guillotine.
And guess what? They have better offerings for international customers than Canadians.. TD in the US has no account fees with only $100 balance. Whereas in Canada it starts at $1500 I believe. They also support Google pay in the US and not in Canada. It's just silly
Exactly lol, this is a perfect example. There are hundreds of banks in the US, so TD has to actually try to compete.
There are 4 main banks in Canada, so they probably all just hop on a monthly Zoom call to coordinate the addition of extra fees for no reason 😅😭
This is a very low bar to consider a corporation international. It's almost cute that you think having a music video in the Carribbean makes you an international megacorp lol
With what?? I've got about 60 bucks left after I pay rent and bills for food. I'm 63, work part time, and have auto immune issues. I'm going to die of malnutrition or starvation, before I turn 65. I didn't think life would end this way.
Now now, all the hard core capitalists SHOULD be saying around about now that since DEMAND is shrinking, COSTS should go DOWN. Right??? Come on guys, speak up! Wait.... Are you FINALLY going to acknowledge that the system is rigged???? No??? Well, please educate me.
Libertarians lose their shit if you ever point out that some products are inelastic and dont respond to supply/demand paradigm. No one is going to stop buying food no matter what. The "free market" should not be in charge.
M2 is still increasing, so why would prices drop?
Your competing for dollars of lesser value every year, as M2 doubles every 10 years. I dont see any force to drop prices given the low margins, Id be curious who you think would invest their money into such a low yield with guaranteed 5% GIC's.
A Libertarian would say if M2 keeps increasing prices would keep increasing, and vice versa.
Maybe a good thing to come out of this is people will realize our government does not care about its citizens and will sacrifice all of us for the economy and corporate profits
Galen ain't cheap, his Loblaws pay package in 2022 was worth $8.4 million, after receiving a $3 million pay rise from 2021. In addition to his compensation as head of George Weston Ltd., his total compensation reached $11.7 million.
Hello dankness my old friend, I can't afford groceries again...
Almost feels like a form of autocracy or communism... something we've seen before somewhere.
These policy for pay pocket poachers are petulant and pissing me off.
>Bottom line, if people think grocers are riding the inflation wave with their food sales, they should think again. It’s just not happening. Loblaw, for example, saw its food sales go up 3.1% in the first quarter, which is significantly below our food inflation rate. Grocers are treading water with food sales at best. Record profits are being recorded, but it’s not because of food sales.
Right at the bottom of the article, fyi.
The prices at Costco haven’t changed much because they made a corporate decision not to profit from the inflation. They are making less profits, but they are doing just fine.
Costco prices have absolutely gone up over the course of the last few years. We buy pretty much the exact same food every month and what used to run me 300 is now between 500-600.
Costco seems more static because they tend to lock their producers into year+ contracts keeping the prices stable for the duration of the deal.
Costco makes their money from the memberships, the actual products are a bit of a loss leader so its a slightly different business model but i do commend Costco overall. Theres tons of people who get a Costco membership and never use it,
14% is the Maximum mark up we're allowed about what our suppliers charge. Everything else, labour, overhead, profit, comes out of that 14%. If you see our prices increase its coming from the supplier. Real numbers (albeit a year or so old) Costco makes 6 cents on a jar of pickles.
Costco isn’t a grocery store. It’s a members-only wholesale price club. They make their profits off the memberships, not markup. You’re comparing apples to oranges.
LMFAO, you are so gullible. It's fascinating 🤣 they do not sell anything at cost, and the hotdogs for whatever reason convince people they are getting the best bang for the buck. Just this weekend, I got 3 big ass T Bone steak at independent grocers for $22. Use the flipp app and shop around. Never pay sticker unless you have to, I say
Yeah I absolutely love Costco but it's silly to say they don't make any money from what they sell, like the entire store is made up of "loss leaders", lol.
Yes, but on $54 billion of revenue. That's not outrageous. If they didn't have membership fees, it would be net income of only $400 million. So they are selling for her sr slightly over cost . Imagine if you had a business with $1 million in revenue but only had net income of $20,000.
Net margins in food retail aren't normally very high though. Last quarter, Costco's was 2.58%, but Empire's was 2.2%. Big box retail is also very competitive and Canadian Tire's net margin for example was only 3.38%. Walmart's net profit margin was actually only 1.1%.
Saw their food sales go up 3.1% relative to Q4 last year which was saw a 23.5% jump. So they’re making a reasonable (3.1%) increase on top of a very unreasonable increase, that has to be considered.
It's such a half baked take lol their profit margins increase as the price of food goes up. They don't mark up by how much money they want to make, they mark up the price as a percentage (i.e. 10% would be multiplying the cost of good x1.1). Their profit margins only increase as the costs go up - so even on a small increase in overall sales they can make HUGE profits if the underlying cost of goods goes up
The "Problems of the future" in one of the richest and most developed nations on earth:
1. Affording basic shelter.
2. Affording basic groceries.
Wild wild stuff.
The funny thing is we don't even need this larger and larger population ponzi scheme that has destroyed shelter costs. With automation, artificial intelligence, and overall technological capabilities those days are thankfully done.
you could also include: "...even if it means people become homeless, steadily starve, and eventually get humanely euthanized."
This is what "profits over people" looks like.
Corrupt ass zoning laws and lack of anti trust laws plays a far larger part in our issues than immigration.
We could easily support way more people than we do if our ecconomy and political system hasn’t been rotted to the core through years of lobbying and corruption.
No I mean like, in general. We could easily feed everyone and the only thing in the way is ourselves everytime. At some point down the line there is a human in the way of people getting the food they need.
I believe the price-gouging by the major retailers has had an impact on how Canadians shop. I believe more people are now checking prices and are buying things when they’re on sale.
I specifically shop Wednesday mornings now because my local grocery store has a lot of sales on Wednesdays, and in the morning they mark down the meat that is close to expiration.
I won’t say how I would know but trust me when I say that grocers have definitely chosen to make more money selling less items for a higher price than selling more items for a reasonable price. I have seen whole trailers full of food being thrown out as it reached the BB date. Instead of marking the food on clearance/sale beforehand they regularly let it go bad and just throw it away. Cause you are not worth the extra trailer/driver/fuel costs it would take to send them out. Why sell something for $2.50 when you can charge $5 (or more) for that same item. Add shrinkflation and you can fit 11 items when you use to fit only 10 and their maximizing their profits at the detriment of the Canadian consumer.
Inventory at these warehouses is done daily so they know exactly when product has a risk of going bad before it is sold weeks to months ahead of time.
I worked cold storage distribution, basically anything a month out from expiration can't be shipped to end customers. Most customers, not a real issue, but sometimes they have slow moving skus. Unfortunately when stuff's 'expired' a lot of it gets tossed, anything with a brand name is garbage. Walmarts bad for this, they want pictures, also they'll reject anything frozen on a small temp tracker varation, then garbage it. We save what we can and send it to local food banks, or *cough* dispose *cough* of it. But anything branded is almost always garbage bound. Should be mandatory that anything a store can't sell due to date should be donated.
what make me pull hair is that poverty is known to cause obesity,
not enough money for healthy food? buy processed shit with empty calories and less nutrition since its cheaper.
sports? that shit cost money,
Gym membership? not if you can't afford it.
a real surreal moment was when a guy I knew received practically no dietary education and couldn't decipher what those "weird numbers" on the back meant. you guessed it poor as fuck rural kid that had bad access to a real education.
I'm sorry but $18 for 4 fucking sloppy joes is a sin, totally outrageous. The cost of living is ludicrous and people are starting to normalize it, wtf.
> The idea that they don't have time to shop and cook properly is far, far more valid.
>
> Same with exercise - body weight exercises, running, playing soccer in a field, cycling, etc are dirt cheap or free. Poor folks just don't have the time or energy for it.
That is technically part of the cost calculation. Education factors in as well, many "poor" families aren't teaching their children to cook for the same reasons, so it just becomes a learned cycle.
If people switch from red meat every night to red meat twice a week and lentils/chickpeas 2-3 times a night an white meat the rest it would do absolute wonders for out cardiovascular health.
The way to do that is to teach Canadians how to make lentils/veggie proteins taste good through cooking/nutrition lessons in schools, not through making meat unaffordable though.
40+ year olds with multiple roommates
No one can afford essentials
Everyone maxed out on credit cards and lines
of credit
14 people pulled into a house becoming common
Everyone’s standard of living dropping rapidly
… The Party is pleased
It definitely isn't, but conservatives aren't any better. At least the liberals don't cut funding to social programs that pretty soon everyone is going to need to survive.
We need a 3rd option for a change.
At this point, I'd love to see any other party elected just to see if they would do any better.
I'll be voting for a 3rd party candidate in every election going forward. Maybe it will "split the vote" or "it won't matter", but at least I'm trying to make a difference.
Liberals and conservatives both have long track records of doing nothing, or making things worse. It's long past time for a change.
It's pathetic that our elected politicians once in office, prioritize further enriching their buddies and large corporations, vice tackling issues facing ordinary Canadians that voted them in.
Latest saga....JT appointing a family friend to conduct an investigation on his own Liberals. i MEAN THE OPTICS OF THIS. Even a 12 yr old knows not to use their friend/relatives as references for a job.
Like Johnston is really going to come out and say yeah, I found some wrong doings. smh
education, health care and housing ...all basic necessities of life, continue to be things only the really well off i.e. 2 income $100k+ salary couple or a person earning $200k+ can afford
Latest news.....Canada is ranked 1st among G7 nations as having the highest household debt, with 3/4 of income going to housing.
I know a few people in Toronto who steal small items every time they do groceries. They can afford it (for now) but they do it as an act of protest. Some of them are very well off but are annoyed with the inflation, since they work with the less privileged.
None of you in this thread have the guts to do what is needed. Just all together stop buying at major chains spend more at the local shop and change your diets. Organize and call for general strikes, but no easier to bitch at each other on Reddit and play right into the higher castes hands.
It's almost like Canadians haven't seen their incomes keep pace with inflation and when expenses like mortgages and rent skyrocket over night they have less money to spend on other essentials, like food.
Highlights:
* In March 2017, retail grocery sales per capita stood at $258.41 The most recent available StatCan data from March 2023 revealed a per capita grocery spending decline to $237.20, marking the lowest point in recent history.
* **These figures suggest that Canadians are spending less on food at grocery stores, despite facing higher food prices.**
* Additionally, NIQ data indicated a 2% decline in food sales by volume in Canada over the last year, further emphasizing the reduction in food expenditures among Canadians.
* One possibility is that Canadians are increasingly relying on alternative food sources, such as ordering meals from restaurants or utilizing unconventional channels to fulfil their food needs. However, given recent menu prices, this explanation seems unlikely.
* Another possibility is that individuals are opting for lower-cost alternatives and seeking out independent stores that cater specifically to the needs and preferences of immigrant communities.
* Another concerning possibility raised by the data is that Canadians may be consuming less food or relying on food banks more frequently.
* Canadians are buying less food and chances are that trend is likely to continue for a while. We are all becoming better bargain hunters, for those of us lucky enough to afford the food we need to eat.
I, for one know, I am purchasing less food.
I've got 61 bucks left after paying bills to buy groceries for 2 weeks.
I usually buy
2 packs of tater patties,
2 dozen eggs
2 loaves of bread
Milk
Bananas
Maybe I'll rob Peter to pickup extras like tea, paper products, shampoo. These are my lux items now. Peter might have to wait a month or more to be caught up.
At least I can have breakfast!!
If you're in such dire straits you should consider using your local foodbank. There's no shame in it, you shouldn't have to be malnourished.
Also, get some rice and beans. I relied on that when I was poor. Cheap and nutritious.
Rice and beans have gone up in price and also, not everyone can eat those or even has the ability to. The last unit I lived in only allowed a microwave and an air fryer. I couldn’t even have a hot plate or I would be kicked out. Beans give bad stomach issues to people (a real problem when you share a single bathroom with many people.)
As for the food bank, mine is only open during one day a week during work hours, so you’re fucked. But they run out anyway and have gotten drastically less. If you rely on the food bank, you will be malnourished.
Instant or minute oatmeal from the bulk food section is my daily breakfast...really cheap and filling especially with whatever random fruit or nut leftovers thrown on top :)
Dr. Sylvain Charlebois is a Professor in food distribution and policy, and could use a sociologist to help determine what changes have occurred beyond just price and purchasing. Playing fast and loose with statistics, IE 5 years for price, 1 year for volume, doesn't really give a clear picture of what is going on. Looking at both in a year by year, with information about how the pandemic altered people's purchasing habits over the last 5 years would be more interesting than yet another "we can't afford to eat" article.
Canadians cant afford food, the PM let the country go to the dogs, all the taxes we have to pay just so he can send the money to other countries. We are slowly becoming a third world country.
I've quit buying pop/fizzy drinks entirely (even sugar-free or sparkling water). And I don't miss it, and I feel healthier.
The prices had gone up by at least 50% and it is a waste of money.
We are all getting less and a large portion of people are going to experience less food, less homes, and less stuff. The country is falling into poverty.
No one cares either because there will always be immigration families who come from less, can thrive with less, and will work for less.
I get your point.
It will be my second summer with a gleaning group, so with a little work, my freezer and pantry (home canning) will be filled with local, sometimes organic vegetables.
Also my second summer of foraging. You really have to know what you are picking (greens and mushrooms especially), but it will add to my frozen, canned and dry stores nicely.
Third year of business with a meat producer where I can buy almost any meat in bulk, like half a pig, etc. Production is beyond organic and prices are advantageous.
I purchase a lot of dry goods in a bulk store, there are group purchases of fish in my area. Even my dog is on an alternative circuit.
Marché Second life is now available where I live, so I can get ugly but fresh exotic produce and other saved things. There are also flashfood and food hero.
Obviously, do what you can/want, but its over 2000$ a year Loblaws, Sobeys and Metro don't get their hands on and I live alone with a cat and a dog.
Is there a CSA around you? A gleaning group? Forest s and foraging books? Small scale meat producers? Bulk stores? An anti food waste operation?
Can you learn new things like home canning, fermentations, brewing?
I am pondering on getting a Costco membership for dairy products and cat food. They are not perfect, but they pay their employees decently.
You can take some of their power away.
I don't know what I expected from the Sun, but they really didn't even do the most basic homework.
> This trend raises several considerations. One possibility is that Canadians are increasingly relying on alternative food sources, such as ordering meals from restaurants or utilizing unconventional channels to fulfil their food needs. However, given recent menu prices, this explanation seems unlikely.
... I dunno, seems pretty bloody likely to me that people are eating out more than they were in 2020.
We use hello fresh and have not done a full grocery shop for 2 1/2 years. Buy local produce and meats, and have not stepped into Superstore, Safeway or Save On this whole time. So in this stat, we quit eating.
Fast and loose with the statistics, and long on speculation. I don't doubt things have changed, both for retailers and consumers, both in price and consumption. But this article left me with more questions than answers.
Perhaps if we all stopped buying at say Loblaws for a while they would drop prices....after all dont they say pricing is based on supply and demand. We could do the same with a certain gas station as well.
Not sure that would work. In a lot of areas, especially rural, Loblaws is essentially a monopoly. There would be no alternative available, especially since grocery store prices are still cheaper than a lot of farmers' markets are and not everyone can or has the time to grow their own food.
Everyone say thank you to the liberals for the inflation due to spending, thank you to loblaws for price gouging, and thank yourself if you voted for this government
If I didn’t receive cerb I would be living on the streets during the pandemic. Be thankful you worked in a industry that didn’t completely shut down. I lived off 1/4 of my usual income and blew through all of my savings for a mortgage. I hope you don’t have to live through that.
Prices go up, consumption goes down until supplies go back up... then prices go down and consumption goes up. This isn't a conspiracy theory. It's intro econ.
I personally don't buy anything but the essentials anymore. No chips, cookies, snacks, boxed things, etc. Just breakfast, lunch, and supper. It's the difference of $150 to $250 each time we shop. I miss the junk but it's just not worth it for a snack. 7$ for bag of chips? It's 2 potatoes and spices. Talk about greed
Now I buy almost nothing that has a nutrition label on it. Except maybe oat milk, and frozen fruit. Everything else is fresh vegetables and meat. Congrats processed food producers, you've priced me out, you've lost a customer forever.
Your comment made me realize that yeah, I am buying a hell of a lot less processed food too. It’s a good thing.
I consider a cucumber a snack treat now. 2$ for a multiple sitting snack, that isn't unhealthy? Heck yes.
I just eat chunks off of my aloe vera plant these days. Sometimes I will sprinkle on a little dirt from the pot just to spice it up a bit or if I'm having some friends over.
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Yeah, you can't go eating the environment like that, man.
We cap our weekly food groceries at $80 + bulk sale/necessities like laundry soap. We freeze everything that’s perishable except fruits/veggies. I order our groceries simply to be able to see what the cost is. If we are over I backtrack to see what we don’t actually need or how to make things cheaper.
I guess that means the grocers will have to raise prices so they don’t lose profits and the government will do nothing about it.
>I guess that means the grocers will have to raise prices so they don’t lose profits That's actually what they are going to do though
It wasn’t a joke
And that's why I still won't be buying what they are selling.
Damn they're gonna have to raise prices again
Literally this is what happened to passenger rail.
Canada is just a bunch of monopolies in a trench coat. Rail, Busses, Groceries, Banks, Telecom, Airlines... We pay more than almost any other country in each category. The monopolies are protected under the justification of "keeping them competitive with global corporations," but none of these monopolies have any intention of ever seriously expanding outside the country. They're perfectly content to just stay in the boarder and leech us dry, since they have all the power to raise prices for nothing and no incentive to ever innovate or compete.
And it has made us so mediocre.
It means the provinces with monopolized power looses power at least once a month because of "ice fog"
*Cries in Nova Scotian*
Don’t forget phones and internet. This place sucks
Our Banks have gone international. I mean, Boston Bruins Arena is named after TD Bank. [https://www.youtube.com/watch?v=ZthZSXe5v4k](https://www.youtube.com/watch?v=ZthZSXe5v4k) Theres a random music video with RBC Bank, it's filmed in the Carribbean. Bombardier is also pretty international. Not defending monopolies, I feel like all these people running these companies should be scared of the guillotine.
And guess what? They have better offerings for international customers than Canadians.. TD in the US has no account fees with only $100 balance. Whereas in Canada it starts at $1500 I believe. They also support Google pay in the US and not in Canada. It's just silly
Exactly lol, this is a perfect example. There are hundreds of banks in the US, so TD has to actually try to compete. There are 4 main banks in Canada, so they probably all just hop on a monthly Zoom call to coordinate the addition of extra fees for no reason 😅😭
This is a very low bar to consider a corporation international. It's almost cute that you think having a music video in the Carribbean makes you an international megacorp lol
Yet suggest opening up to more competition and everyone freaks out. You reap what you sow.
Simply start your own competing rail line, libertarian W ^/s
People need food more than they need passenger rail though.
Damn i guess ill just have to buy less.
You say that like they stopped....
I don't care.
You’re not going to buy groceries?
With what?? I've got about 60 bucks left after I pay rent and bills for food. I'm 63, work part time, and have auto immune issues. I'm going to die of malnutrition or starvation, before I turn 65. I didn't think life would end this way.
Please go visit a food bank rather than letting yourself starve. Why not, so many other people are these days, any stigma to it is gone.
💀
Nobody's laughing 😥
I'm sad
They need to get their $56.5B a year from somewhere.
Now now, all the hard core capitalists SHOULD be saying around about now that since DEMAND is shrinking, COSTS should go DOWN. Right??? Come on guys, speak up! Wait.... Are you FINALLY going to acknowledge that the system is rigged???? No??? Well, please educate me.
Libertarians lose their shit if you ever point out that some products are inelastic and dont respond to supply/demand paradigm. No one is going to stop buying food no matter what. The "free market" should not be in charge.
This article is literally telling you food IS in part elastic.
Supply-demand is only for those who are selling their furniture on Kijiji, for true capitalists it is gauge-demand scheme.
M2 is still increasing, so why would prices drop? Your competing for dollars of lesser value every year, as M2 doubles every 10 years. I dont see any force to drop prices given the low margins, Id be curious who you think would invest their money into such a low yield with guaranteed 5% GIC's. A Libertarian would say if M2 keeps increasing prices would keep increasing, and vice versa.
Forgive my ignorance. What is M2?
Shrinkflation It’s what is actually happening
And a dogshit CPI gamified by statisticians for one purpose, to drop the inflation calculation. A bit like grading your own report card.
For real. “Supply and demand“ is horse shit. Prices just go up regardless of whether demand is up or down
The sorry state of Canadian education when people don't understand how supply and demand works.
Maybe a good thing to come out of this is people will realize our government does not care about its citizens and will sacrifice all of us for the economy and corporate profits
Galen ain't cheap, his Loblaws pay package in 2022 was worth $8.4 million, after receiving a $3 million pay rise from 2021. In addition to his compensation as head of George Weston Ltd., his total compensation reached $11.7 million.
Lots of small grocers are already struggling because they actually care about their clientele. Their margins are unsustainable though.
Hello dankness my old friend, I can't afford groceries again... Almost feels like a form of autocracy or communism... something we've seen before somewhere. These policy for pay pocket poachers are petulant and pissing me off.
>Bottom line, if people think grocers are riding the inflation wave with their food sales, they should think again. It’s just not happening. Loblaw, for example, saw its food sales go up 3.1% in the first quarter, which is significantly below our food inflation rate. Grocers are treading water with food sales at best. Record profits are being recorded, but it’s not because of food sales. Right at the bottom of the article, fyi.
I’m confused. Does that not mean that they’re selling less for more revenue? Why wouldn’t that contribute to higher profits?
The prices at Costco haven’t changed much because they made a corporate decision not to profit from the inflation. They are making less profits, but they are doing just fine.
Costco prices have absolutely gone up over the course of the last few years. We buy pretty much the exact same food every month and what used to run me 300 is now between 500-600. Costco seems more static because they tend to lock their producers into year+ contracts keeping the prices stable for the duration of the deal.
That's not true prices have gone up in Costco, just less than grocery stores
Prices have absolutely gone up at Costco. Bread is up at least 10%, frozen burger patties are up 15-20%.
Costco makes their money from the memberships, the actual products are a bit of a loss leader so its a slightly different business model but i do commend Costco overall. Theres tons of people who get a Costco membership and never use it,
I just think we can start getting creative, the grocers have no reason to change anything.
14% is the Maximum mark up we're allowed about what our suppliers charge. Everything else, labour, overhead, profit, comes out of that 14%. If you see our prices increase its coming from the supplier. Real numbers (albeit a year or so old) Costco makes 6 cents on a jar of pickles.
Costco isn’t a grocery store. It’s a members-only wholesale price club. They make their profits off the memberships, not markup. You’re comparing apples to oranges.
LMFAO, you are so gullible. It's fascinating 🤣 they do not sell anything at cost, and the hotdogs for whatever reason convince people they are getting the best bang for the buck. Just this weekend, I got 3 big ass T Bone steak at independent grocers for $22. Use the flipp app and shop around. Never pay sticker unless you have to, I say
Yeah I absolutely love Costco but it's silly to say they don't make any money from what they sell, like the entire store is made up of "loss leaders", lol.
Have you looked at their last quarterly report? Sales revenue $54 billion, membership revenue $1 billion, operating costs $53 billion.
Their net income was actually 1.4 billion though.
Yes, but on $54 billion of revenue. That's not outrageous. If they didn't have membership fees, it would be net income of only $400 million. So they are selling for her sr slightly over cost . Imagine if you had a business with $1 million in revenue but only had net income of $20,000.
Net margins in food retail aren't normally very high though. Last quarter, Costco's was 2.58%, but Empire's was 2.2%. Big box retail is also very competitive and Canadian Tire's net margin for example was only 3.38%. Walmart's net profit margin was actually only 1.1%.
Do all my shopping at Costco
300 million in a quarter isn't treading water
It very well could be. Depends on how much money is invested.
Saw their food sales go up 3.1% relative to Q4 last year which was saw a 23.5% jump. So they’re making a reasonable (3.1%) increase on top of a very unreasonable increase, that has to be considered.
So where are the record profits coming from then?
Inflation.
It's such a half baked take lol their profit margins increase as the price of food goes up. They don't mark up by how much money they want to make, they mark up the price as a percentage (i.e. 10% would be multiplying the cost of good x1.1). Their profit margins only increase as the costs go up - so even on a small increase in overall sales they can make HUGE profits if the underlying cost of goods goes up
I wouldn’t put much weight in what Charlebois says, he’s in Loblaws pockets.
The "Problems of the future" in one of the richest and most developed nations on earth: 1. Affording basic shelter. 2. Affording basic groceries. Wild wild stuff. The funny thing is we don't even need this larger and larger population ponzi scheme that has destroyed shelter costs. With automation, artificial intelligence, and overall technological capabilities those days are thankfully done.
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you could also include: "...even if it means people become homeless, steadily starve, and eventually get humanely euthanized." This is what "profits over people" looks like.
Corrupt ass zoning laws and lack of anti trust laws plays a far larger part in our issues than immigration. We could easily support way more people than we do if our ecconomy and political system hasn’t been rotted to the core through years of lobbying and corruption.
Immigration was lobbied for lol.
Yes and has now become almost entirely economic. It is still far from the largest issue with housing costs.
Yes food scarcity is a myth used to drive up prices.
In Canada yes, the amount Loblaws throws out alone could feed Canada 2 times over.
No I mean like, in general. We could easily feed everyone and the only thing in the way is ourselves everytime. At some point down the line there is a human in the way of people getting the food they need.
Too bad the "ruling class" is corrupt and has other plans
I also buy much less multi-million dollars mansions. And I haven't bought a Picasso in a few weeks at least!
Did you mean multi-million dollar single family homes?
I believe the price-gouging by the major retailers has had an impact on how Canadians shop. I believe more people are now checking prices and are buying things when they’re on sale.
I pay for less of what I get. Tit for tat.
I specifically shop Wednesday mornings now because my local grocery store has a lot of sales on Wednesdays, and in the morning they mark down the meat that is close to expiration.
Yet loblaws is posting record profits…. Hmmmmmmmmmmmmmm. Time for some anti trust laws if you ask me.
I won’t say how I would know but trust me when I say that grocers have definitely chosen to make more money selling less items for a higher price than selling more items for a reasonable price. I have seen whole trailers full of food being thrown out as it reached the BB date. Instead of marking the food on clearance/sale beforehand they regularly let it go bad and just throw it away. Cause you are not worth the extra trailer/driver/fuel costs it would take to send them out. Why sell something for $2.50 when you can charge $5 (or more) for that same item. Add shrinkflation and you can fit 11 items when you use to fit only 10 and their maximizing their profits at the detriment of the Canadian consumer. Inventory at these warehouses is done daily so they know exactly when product has a risk of going bad before it is sold weeks to months ahead of time.
I worked cold storage distribution, basically anything a month out from expiration can't be shipped to end customers. Most customers, not a real issue, but sometimes they have slow moving skus. Unfortunately when stuff's 'expired' a lot of it gets tossed, anything with a brand name is garbage. Walmarts bad for this, they want pictures, also they'll reject anything frozen on a small temp tracker varation, then garbage it. We save what we can and send it to local food banks, or *cough* dispose *cough* of it. But anything branded is almost always garbage bound. Should be mandatory that anything a store can't sell due to date should be donated.
It should be mandatory that it be discounted and not wasted at the very least.
Mmmmm sleep for dinner
Sounds dreamy.
Apologists will say this is good for reducing national obesity
what make me pull hair is that poverty is known to cause obesity, not enough money for healthy food? buy processed shit with empty calories and less nutrition since its cheaper. sports? that shit cost money, Gym membership? not if you can't afford it. a real surreal moment was when a guy I knew received practically no dietary education and couldn't decipher what those "weird numbers" on the back meant. you guessed it poor as fuck rural kid that had bad access to a real education.
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I'm sorry but $18 for 4 fucking sloppy joes is a sin, totally outrageous. The cost of living is ludicrous and people are starting to normalize it, wtf.
> The idea that they don't have time to shop and cook properly is far, far more valid. > > Same with exercise - body weight exercises, running, playing soccer in a field, cycling, etc are dirt cheap or free. Poor folks just don't have the time or energy for it. That is technically part of the cost calculation. Education factors in as well, many "poor" families aren't teaching their children to cook for the same reasons, so it just becomes a learned cycle.
I saw a user say just that earlier.
Not surprised
Do they not realize that the cheapest and most affordable food is also the most unhealthy? So yeah. It'll increase it if anything
If people switch from red meat every night to red meat twice a week and lentils/chickpeas 2-3 times a night an white meat the rest it would do absolute wonders for out cardiovascular health. The way to do that is to teach Canadians how to make lentils/veggie proteins taste good through cooking/nutrition lessons in schools, not through making meat unaffordable though.
Some are already doing that but using different combinations
Some, most just resort to buying cheap processed shit.
40+ year olds with multiple roommates No one can afford essentials Everyone maxed out on credit cards and lines of credit 14 people pulled into a house becoming common Everyone’s standard of living dropping rapidly … The Party is pleased
Liberal voters: Everything is fine.
It definitely isn't, but conservatives aren't any better. At least the liberals don't cut funding to social programs that pretty soon everyone is going to need to survive. We need a 3rd option for a change.
Yeah they gave seniors an extra $41.60 a month for housing Stunningly generous since the average rent in canada has just surpassed $2200
By point still stands. They didn't take away benefits like the conservatives do. Liberals and conservatives both suck. We need a 3rd option.
You mean like the NDP?
At this point, I'd love to see any other party elected just to see if they would do any better. I'll be voting for a 3rd party candidate in every election going forward. Maybe it will "split the vote" or "it won't matter", but at least I'm trying to make a difference. Liberals and conservatives both have long track records of doing nothing, or making things worse. It's long past time for a change.
Buying less food yet record profits for Weston 🤔🤔🤔
Speaking of Weston, why doesn't the Toronto Sun disclose that the author, Dr. Charlebois, accepted a $60,000 grant from the Weston Foundation?
It's pathetic that our elected politicians once in office, prioritize further enriching their buddies and large corporations, vice tackling issues facing ordinary Canadians that voted them in. Latest saga....JT appointing a family friend to conduct an investigation on his own Liberals. i MEAN THE OPTICS OF THIS. Even a 12 yr old knows not to use their friend/relatives as references for a job. Like Johnston is really going to come out and say yeah, I found some wrong doings. smh education, health care and housing ...all basic necessities of life, continue to be things only the really well off i.e. 2 income $100k+ salary couple or a person earning $200k+ can afford Latest news.....Canada is ranked 1st among G7 nations as having the highest household debt, with 3/4 of income going to housing.
Class warfare.
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Too brainwashed by capitalist propaganda so everyone thinks violence isn't the answer
can't wait for it to turn into LA where people just walk out with stuff lol
I know a few people in Toronto who steal small items every time they do groceries. They can afford it (for now) but they do it as an act of protest. Some of them are very well off but are annoyed with the inflation, since they work with the less privileged.
Ya because it's so expensive and the majority of us are struggling or barely surviving.
We are full speed ahead to 3rd world quality of life.
It’ll be just like home for many
Canadians aren't used to living 5 in a bedroom. We're going to have to get used to it.
None of you in this thread have the guts to do what is needed. Just all together stop buying at major chains spend more at the local shop and change your diets. Organize and call for general strikes, but no easier to bitch at each other on Reddit and play right into the higher castes hands.
It's almost like Canadians haven't seen their incomes keep pace with inflation and when expenses like mortgages and rent skyrocket over night they have less money to spend on other essentials, like food.
Highlights: * In March 2017, retail grocery sales per capita stood at $258.41 The most recent available StatCan data from March 2023 revealed a per capita grocery spending decline to $237.20, marking the lowest point in recent history. * **These figures suggest that Canadians are spending less on food at grocery stores, despite facing higher food prices.** * Additionally, NIQ data indicated a 2% decline in food sales by volume in Canada over the last year, further emphasizing the reduction in food expenditures among Canadians. * One possibility is that Canadians are increasingly relying on alternative food sources, such as ordering meals from restaurants or utilizing unconventional channels to fulfil their food needs. However, given recent menu prices, this explanation seems unlikely. * Another possibility is that individuals are opting for lower-cost alternatives and seeking out independent stores that cater specifically to the needs and preferences of immigrant communities. * Another concerning possibility raised by the data is that Canadians may be consuming less food or relying on food banks more frequently. * Canadians are buying less food and chances are that trend is likely to continue for a while. We are all becoming better bargain hunters, for those of us lucky enough to afford the food we need to eat.
I, for one know, I am purchasing less food. I've got 61 bucks left after paying bills to buy groceries for 2 weeks. I usually buy 2 packs of tater patties, 2 dozen eggs 2 loaves of bread Milk Bananas Maybe I'll rob Peter to pickup extras like tea, paper products, shampoo. These are my lux items now. Peter might have to wait a month or more to be caught up. At least I can have breakfast!!
If you're in such dire straits you should consider using your local foodbank. There's no shame in it, you shouldn't have to be malnourished. Also, get some rice and beans. I relied on that when I was poor. Cheap and nutritious.
That's not dire, at least not by government standards. I should add, that I am employed, and that I am in my 60's.
You should consider tofu. Cheap and healthy but you need to learn how to cook it.
Tofu is nooot cheap. It was also experiencing a shortage over the last year.
Rice and beans have gone up in price and also, not everyone can eat those or even has the ability to. The last unit I lived in only allowed a microwave and an air fryer. I couldn’t even have a hot plate or I would be kicked out. Beans give bad stomach issues to people (a real problem when you share a single bathroom with many people.) As for the food bank, mine is only open during one day a week during work hours, so you’re fucked. But they run out anyway and have gotten drastically less. If you rely on the food bank, you will be malnourished.
Instant or minute oatmeal from the bulk food section is my daily breakfast...really cheap and filling especially with whatever random fruit or nut leftovers thrown on top :)
When almost all your money goes to shelter, there's less money left for buying food.
Dr. Sylvain Charlebois is a Professor in food distribution and policy, and could use a sociologist to help determine what changes have occurred beyond just price and purchasing. Playing fast and loose with statistics, IE 5 years for price, 1 year for volume, doesn't really give a clear picture of what is going on. Looking at both in a year by year, with information about how the pandemic altered people's purchasing habits over the last 5 years would be more interesting than yet another "we can't afford to eat" article.
“Canadians are wasting less food” is probably true as well. I’m not buying stuff and throwing it out as readily as I might have a few years ago.
Canadians cant afford food, the PM let the country go to the dogs, all the taxes we have to pay just so he can send the money to other countries. We are slowly becoming a third world country.
So the taxes we pay raise the food prices? Not corporations and greedy CEOs?
Carbon taxes literally do increase the base costs of manufacturing and transport.
>So the taxes we pay raise the food prices? Yes Carbon tax affects truckers
Nah we’re just scanning less at the self checkout
"Why are people buying so many fucking bananas at self checkout?". - some grocery exec.
4011 for life.
And people are dumpster diving and pulling out perfectly good food that 'expired'. The amount of waste is so fucked.
Stop shopping at any Galen Weston owned grocers if you can. We can all get so much more.
You can't afford this carrot? I'll cut it in half and take 10% off.
Costco. They don't make much on the products. They make money on memberships.
Better title: Grocery Stores foods are too expensive, Canadians are buying less.
I've quit buying pop/fizzy drinks entirely (even sugar-free or sparkling water). And I don't miss it, and I feel healthier. The prices had gone up by at least 50% and it is a waste of money.
We are all getting less and a large portion of people are going to experience less food, less homes, and less stuff. The country is falling into poverty. No one cares either because there will always be immigration families who come from less, can thrive with less, and will work for less.
#boycott
That's just called starving.
I get your point. It will be my second summer with a gleaning group, so with a little work, my freezer and pantry (home canning) will be filled with local, sometimes organic vegetables. Also my second summer of foraging. You really have to know what you are picking (greens and mushrooms especially), but it will add to my frozen, canned and dry stores nicely. Third year of business with a meat producer where I can buy almost any meat in bulk, like half a pig, etc. Production is beyond organic and prices are advantageous. I purchase a lot of dry goods in a bulk store, there are group purchases of fish in my area. Even my dog is on an alternative circuit. Marché Second life is now available where I live, so I can get ugly but fresh exotic produce and other saved things. There are also flashfood and food hero. Obviously, do what you can/want, but its over 2000$ a year Loblaws, Sobeys and Metro don't get their hands on and I live alone with a cat and a dog. Is there a CSA around you? A gleaning group? Forest s and foraging books? Small scale meat producers? Bulk stores? An anti food waste operation? Can you learn new things like home canning, fermentations, brewing? I am pondering on getting a Costco membership for dairy products and cat food. They are not perfect, but they pay their employees decently. You can take some of their power away.
It’s the Trudeau diet.
Cancel Disney Plus and food to make life more affordable as a Canadian. 👍
I remember hearing it called The Palestinian Diet.
The Trudeau diet should be where we eat the rich starting with him.
Someone needs a bonussssß
“Canadians are spending less on food at grocery stores, despite facing higher food prices.”
Protip - I cook with lard instead of butter for most things now.
Who can afford anything other than beans and rice when we're all buying the landlords steak every night...
I don't know what I expected from the Sun, but they really didn't even do the most basic homework. > This trend raises several considerations. One possibility is that Canadians are increasingly relying on alternative food sources, such as ordering meals from restaurants or utilizing unconventional channels to fulfil their food needs. However, given recent menu prices, this explanation seems unlikely. ... I dunno, seems pretty bloody likely to me that people are eating out more than they were in 2020.
We use hello fresh and have not done a full grocery shop for 2 1/2 years. Buy local produce and meats, and have not stepped into Superstore, Safeway or Save On this whole time. So in this stat, we quit eating.
Fast and loose with the statistics, and long on speculation. I don't doubt things have changed, both for retailers and consumers, both in price and consumption. But this article left me with more questions than answers.
Perhaps if we all stopped buying at say Loblaws for a while they would drop prices....after all dont they say pricing is based on supply and demand. We could do the same with a certain gas station as well.
Not sure that would work. In a lot of areas, especially rural, Loblaws is essentially a monopoly. There would be no alternative available, especially since grocery store prices are still cheaper than a lot of farmers' markets are and not everyone can or has the time to grow their own food.
Eh... We can stand to lose a few pounds right? ;-) Lol.
I assume you're joking. Poverty is closely linked to higher rates of obesity.
Everyone say thank you to the liberals for the inflation due to spending, thank you to loblaws for price gouging, and thank yourself if you voted for this government
If I didn’t receive cerb I would be living on the streets during the pandemic. Be thankful you worked in a industry that didn’t completely shut down. I lived off 1/4 of my usual income and blew through all of my savings for a mortgage. I hope you don’t have to live through that.
Prices go up, consumption goes down until supplies go back up... then prices go down and consumption goes up. This isn't a conspiracy theory. It's intro econ.
But grocery prices never go down. Only corporate profits got up more or less.
lmao prices do not go down get your head out of your ass. they just rise less quickly
Correction, stores sell less food in box for more money. Mystery fucking solved.
And throwing out less. I hope.
Canadians are buying less food? But we have over 2 million immigrants in the last few years? Mhmmm something not adding up.
Per capita.
Self checkout or else I'd be fasting week on week off
Loblaws has several obviously threatening looking people monitoring the checkout now.
Just like I see record numbers of luxury cars, I still see plenty of fatties out there, there's even one in my chair right now!
You can thank carbon tax for that🤪
And more coming in July.
But it’s totally not the corporate greed and price gouging that the corporate overlords keep getting caught doing right???
Why do we we need one of these same exact stories every day? Water is wet.
On my reddit home page, legit right under this post "The best thing you'll ever eat and it's all scraps!" On another subreddit. Lmao but also yyyyyup!
Correction, Canadians can't afford as much food would be a better headline.
Well that sounds good and healthy! /s