The food retail industry has invested $24 billion to meet increased consumer demand and operate safely amid COVID-19, according to a new report from FMI.
“We all remember the uncertainty and anxiety that defined the initial weeks of the pandemic, as virtually every aspect of our daily lives changed seemingly overnight,” said Leslie G. Sarasin, president and CEO of FMI, in a statement. “Since that time, food retailers and our industry’s nearly 5 million dedicated employees have kept Americans fed and shelves stocked while providing a much-needed sense of normalcy for the communities they serve.”
Investments include increases in payroll and incentive pay ($12 billion), increases in benefits ($5 billion), non-monetary benefits and vaccine incentives ($1 billion), personal protective equipment and other safety expenses ($1 billion), cleaning and sanitation supplies, labor, and other related expenses ($3 billion), and technology and online delivery expenses ($1.5 billion.)
“This has undoubtedly been a challenging year for all Americans, and I am especially grateful for the commitment and perseverance of our industry’s workforce throughout this time,” Sarasin continued. “Without our grocery workers, we would have been unable to keep our doors open and therefore unable to serve our communities at a time they needed us most. Now, as we continue to remain vigilant against this virus, our industry is also focused on moving forward and assisting with critical vaccination efforts while supporting the nation’s ongoing economic recovery.”
Related: FMI Launches Supermarket Employee Day; Meat Sales Increase Due to Pandemic.