I keep hearing that about the profit margin, but when my grocery store charges $22 for a 40 ounce pack of bacon, $5.29 for a pound of store brand butter, and $3.50 for a dozen white eggs (not pasture raised or free range), I have to doubt that profit margin figure. We also have a couple of stores that claim to charge 10% “over cost”, for everything (cost includes, of course, overhead, like wages and their cost for the products, etc.) Except for a very few specials, their prices aren’t any better than the other stores. So, no, I don’t believe the 1.6% figure.
I don’t want price controls, but I do believe price gouging is occurring, and that it should not be allowed. Of course, we consumers DO have recourse -— we COULD just not eat...
YOU NEED TO FACTOR IN ALL THE SHOPLIFTING