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Jennifer Fiddes, Tyler Madison, and AJ Spears
Margaret Cox - Introduction to Economics - 08/04/23
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The Kroger Company is an American company that operates multi-
department stores and supermarkets throughout the United States.
4
• Founded in 1883, in Cincinnati, Ohio.
• Kroger started as a singular grocery store at 66
Pearl Street in downtown Cincinnati.
• In 1902, they rebranded as “Great Western Tea
Company” until 1946 when they assumed their
present name “The Kroger Company”.
• Today Kroger operates in 35 of 50 United States,
under 28 different names, such as; Dillons,
Food-4-Less, Fred Meyer, Fry’s, Harris Teeter,
Jay-C, King Soopers, Kroger, QFC, Ralphs,
Roundy’s, and Smith’s.
5
Target Market: Insider states that Kroger's typical shopper is a married
suburban Baby Boomer who has at least some college education and an annual
income of more than $80,000.
5
Top Competitors
6
All three are multi-department stores with locations throughout the United
States, however, Costco requires a paid membership to shop at their stores.
7
2022 Sales Revenue: $107.6B
8
2022 Sales Revenue: $226.954B
9
2022 Sales Revenue: $572.75B
Quarterly Sales Revenue in 2019 - 2022
10
Kroger’s Sales Revenue in 2014 - 2022, by Category
•Kroger is the third largest grocery chain
in the United States, and they are the
largest in four of the 50 states.
•Their sales consist of groceries, general
merchandise, and fuel.
•In an audited report from 2022,
Kroger’s total company sales were
$148.3 billion USD.
•Increasing from their 2021 total sales
of $137.9 billion USD.
•Even during the pandemic in 2020,
Kroger earned $132.5 billion USD from
sales.
In 2012, International Business Economics concluded that The Kroger Company
is an oligopoly.
11
12
Factors Affecting
Demand
13
If consumers income rises, they will be more likely to buy higher priced groceries and opposed to store or generic
brand groceries. Everyone needs to buy groceries, so demand does not fluctuate with income as much as other
goods and services. Richer people spend more on groceries, so a rise in income means more demand for
groceries.
14
Price of Related Goods
15
TGI Fridays is a restaurant. Their prices range from $6.99 to $24.49. If their prices
were to rise, demand for groceries would rise, as people would eat out less.
7-11 is a convenience store chain. Their prices range from $1 to $15 dollars. If their prices were to
fall, grocery prices would fall as well, as people would choose the more convenient option.
Rite Aid is a drug store chain that also sells groceries. Their prices range from $3 to $13. If
their prices were to fall and their selection to rise, grocery store prices would fall, as it is
more convenient to get both your drugs and your groceries at the same place and not
everyone can afford Kroger's chosen in-store pharmacy.
16
All-Clad is a producer of cookware. Cookware is complementary to Kroger
because consumers need it to make meals. All-Clad is a premium cookware
brand and their ten-piece set of pots and pans costs $1499.99 at Crate and
Barrel. If the price of cookware were to rise, the demand for groceries would
be less, and people would eat out more.
Magic Chef is a kitchen appliance brand. Magic Chef prices range
from $100 for a microwave to $300 for a refrigerator or freezer. If the
price of kitchen appliances were to rise, the demand for groceries
would fall. This is because kitchen appliances are needed to prepare
and store the groceries
17
There is a trend towards online grocery shopping in the industry. It is
convenient, and many learned of this convenience during Covid.
18
Inflation caused many buyers to change their shopping habits.
Even though inflation is going back down, many consumers
are still trying to save money on groceries.
19
The Consumer Confidence Index has seen an uptick in the past three
months. This should lead to more purchases of higher quality food, which
should result in more profits for Kroger
20
Number of Buyers
 If consumer incomes rise, there will be fewer customers at Kroger, as people will
shop at more expensive grocery stores.
 If the population of the United States fluctuates, there will be more or less grocery
buyers.
 As people come of age and start their own households there will be more grocery
buyers.
21
Elasticity
The grocery business
involves the sale of
necessities, so is inelastic.
Changing prices do not
affect the grocery business
very much.
22
Factors
Affecting
Supply
23
Legislation
Natural Disasters
Labor Strikes
Pandemics
Input Prices
24
In January 2021, Kroger started testing an
A.I.shopping cart in Cincinnati, OH sponsored
by Caper Inc.
In April 2021, Kroger introduced their first
automated warehouse in Monroe, OH.
In May 2023, it was announced that Kroger was
set to partner with Cooler Screens to deliver
500 smart screens to their stores.
T E C H N O L O G Y
For the past
few years,
Kroger has
made
considerable
strides towards
innovating their
company.
25
Expectations
26
E
N
T
R
Y
E
X
I
T
 Kroger’s tagline is “Fresh for Everyone” noting their
prioritizing quality products and availability to consumers.
 Keeping customer data gives them a leg up on consumer
interests and needs.
 Consistently readjusting tech and operations for a
seamless in-store and online experience.
 Branching out beyond its standing as a grocery retailer.
 (Competitors) Inability to take on greater expenses to
maintain comfortable prices for consumers as well as fund
necessary company growth and/or operations.
 Lack of technological foresight stagnating company
growth.
 Rely solely on manual labor/tech (cashiers, stockers, etc.).
27
170 fine
jewelry stores
2,256
pharmacies
1,585
supermarket
fuel centers
2,750 grocery
retail stores
Headquartered
in Cincinnati,
Ohio
465,000
employees
Establishments
28
Graphs of Covid-19’s Impact on Kroger
References
29
• Kroger Company (KR) stock forecast, price targets and analysts predictions - TipRanks.com. (2023,
July 12). TipRanks | Know Who to Trust. https://www.tipranks.com/stocks/kr/forecast
• Kroger reports Fourth Quarter and Full-Year 2022 results announces growth expectations for
2023. (n.d.). https://ir.kroger.com/CorporateProfile/press-releases/press-release/2023/Kroger-
Reports-Fourth-Quarter-and-Full-Year-2022-Results-Announces-Growth-Expectations-for-
2023/default.aspx
• 7-11 logo. (n. d.). Wikipedia. https://upload.wikimedia.org/wikipedia/commons/thumb/4/40/7-
eleven_logo.svg/544px-7-eleven_logo.svg.png?20160121231038
• 7-Eleven menu prices. (n. d.). pricelisto. https://www.pricelisto.com/menu-prices/7-eleven
• All-Clad ® copper core 10-piece cookware set with bonus. (n. d.). Crate and
Barrel. https://www.crateandbarrel.com/all-clad-copper-core-10-piece-cookware-set-with-
bonus/s586171
• AlphaStreet News. (2022, February 15). Walmart Earnings: All You Need To Know About Walmart's
Q4 2022 Earnings Results https://news.alphastreet.com/wmt-earnings-all-you-need-to-know-
about-walmarts-q4-2022-earnings-results/
• Best brands for kitchen utensils– chosen by you!. (n. d.). Good
Burger. https://goodburgerpopup.com/brands-for-kitchen-utensils/
• Britannica. (2022, November 17). Kroger Co. https://www.britannica.com/topic/Kroger-Co
• Buchholz, K. (2022, January 17). Kroger employees struggle with high cost of living. Statista Daily
Data. https://www.statista.com/chart/26611/kroger-employees-selected-markets-saying-they-
couldnt-afford-groceries-rent/
• Business Insider. (2021, September 1). Kroger shopper data shows its typical customer is a
suburban boomer earning over $80,000. https://www.businessinsider.com/typical-kroger-
shopper-demographic-suburban-boomer-earning-80k-income-2021-9
• Chung, P. M. (2012, September 6). Oligopolies. https://international-business
economics.blogspot.com/2012/09/oligopolies.html
• Consumer confidence index. (n. d.). The Conference Board. https://www.conference-
board.org/topics/consumer-confidence
• Download Rite Aid logo transparent png. (n.d.). StickPNG. https://www.stickpng.com/img/icons-
logos-emojis/shop-logos/rite-aid-logo
• EconPort - Factors affecting supply. (n.d.).
http://www.econport.org/content/handbook/supply/changeSupply.html#:~:text=If%20the%20price
%20of%20inputs,to%20an%20increase%20in%20supply
• FourWeekMBA. (n.d.). How Does Costco Make Money? A Comprehensive Overview.
https://fourweekmba.com/how-does-costco-make-money/
• Galloway Architecture, Engineering and Survey. (2021, January 27). The Kroger Co. Fueling Program
- Galloway Architecture, Engineering & Survey. Galloway Architecture, Engineering & Survey.
https://gallowayus.com/project/the-kroger-co-fueling-program/
• Grocery inflation continues to concern consumers, most of whom are buying fewer items. (2022,
October 25). Marketing Charts. https://www.marketingcharts.com/industries/cpg-and-fmcg-
227650
• Kroger/Albertsons: On Track for Early 2024 - The Anchor. (n.d.). https://anchor.placer.ai/the-
anchor/kroger-albertsons-on-track-for-early-2024
• Kroger. (2021, June 14). "@_shelbiemarie Thank you for shopping with us!" [Tweet]. Twitter.
https://twitter.com/Kroger/status/1404504704305285637
• Kroger Co. (2023, March 2). Kroger Reports Fourth Quarter and Full Year 2022 Results, Announces
Growth Expectations for 2023. https://ir.kroger.com/CorporateProfile/press-releases/press-
release/2023/Kroger-Reports-Fourth-Quarter-and-Full-Year-2022-Results-Announces-Growth-
Expectations-for-
2023/default.aspx#:~:text=Total%20company%20sales%20were%20%24148.3,21.4%25%20of%20sa
les%20
• Kroger Stories. (n.d.). Our History. https://www.krogerstories.com/ourhistory/
• Kroger tests ‘smart’ shopping cart from Caper. (2021, January 19). Supermarket News.
https://www.supermarketnews.com/technology/kroger-tests-smart-shopping-cart-caper
• Logo for TGI Friday's, redesigned in 2013. {n. d.).
Wikipedia. https://en.wikipedia.org/wiki/TGI_Fridays#/media/File:Tgi_fridays_logo13.svg
• Logo of All-Clad. (n. d.). Wikipedia. https://en.wikipedia.org/wiki/All-Clad#/media/File:All-
Clad_logo.jpg
• Macrae, M. (2023, January 13). 8 trends expected to dominate the grocery industry in 2023.
Graceland Fruit. https://www.gracelandfruit.com/8-trends-expected-to-dominate-the-grocery-
industry-in-2023/
• Magic Chef in home. (n. d.). Walmart. https://www.walmart.com/browse/shop-by-brand/magic-
chef/3734780_8307801_1626948
• Magic Chef logo. (n. d.). MC Appliance. https://mcappliance.com/media/brands/logos/mgchef-
logo.png
• Momin, A. (2023, January 8). Kroger SWOT Analysis 2022: How they can beat the competition.
PESTLE Analysis. https://pestleanalysis.com/kroger-swot-
analysis/#Diversification_in_Stores_and_Products
• Moran, C. D. (2023, May 30). Kroger brings digital smart screens to 500 locations. Retail Dive.
https://www.retaildive.com/news/kroger-expands-digital-smart-screens-coolers/651556/
• Online grocery market. (n. d.). Precedence Research. https://www.precedenceresearch.com/online-
grocery-market
• Our Brand – The Kroger Co. (n.d.). https://www.thekrogerco.com/about-kroger/our-
brand/#:~:text=Fresh%20for%20Everyone%20is%20Kroger's,fresh%2C%20affordable%20and%20deli
cious%20food
• Our Business – The Kroger Co. (n.d.). https://www.thekrogerco.com/about-kroger/our-business/
• Park, E. (2020, April 23). Kroger, Albertsons least hard hit by coronavirus. 2020-04-22 |
Supermarket Perimeter. https://www.supermarketperimeter.com/articles/5025-kroger-
albertsons-least-hard-hit-by-coronavirus
• Pettinger, T. Elasticity of demand for food. (2017, February 7). Economics
Help. https://www.economicshelp.org/blog/2621/economics/elasticity-of-food/
• Post, S. (2021, February 12). 5 ways technology can save small business owners time and money.
Business Insider. https://www.businessinsider.com/sc/how-technology-can-help-businesses-
save-time-and-money-2021-2
• Ritchie, H. (2023, January 19). Engel's law: richer people spend more money on food, but it makes
up a smaller share of their income. Our World in Data. https://ourworldindata.org/engels-law-
food-spending
• Saunders, N. (2019). 5 ways Kroger is winning the grocery wars. Flywheel Content Studio.
https://www.onespace.com/blog/2018/03/5-ways-kroger-is-winning-the-grocery-
wars/#:~:text=Even%20though%20it%20is%20useful,customer%2Dcentric%20products%20and%20pr
opositions
• ScrapeHero. (n.d.). 10 Largest Grocery Chains in the USA - Location Reports.
https://www.scrapehero.com/location-reports/10-largest-grocery-chains-in-the-usa/
• ScrapeHero. (n.d.). Kroger Company USA - Location Reports.
https://www.scrapehero.com/location-reports/Kroger%20Company-
USA/#:~:text=There%20are%202%2C916%20Kroger%20Company,Company%20stores%20in%20the%
20US
• Shop Rite Aid grocery. (n. d.). Rite Aid. https://www.riteaid.com/shop/grocery
• Statista. (2021). Kroger's sales revenue in the United States from 2020 to 2021.
https://www.statista.com/statistics/717489/kroger-sales-revenue/
• Target. (2022). Target Corporation Annual Report 2022.
https://corporate.target.com/_media/TargetCorp/annualreports/2022/pdfs/2022-Target-
Annual-Report.pdf
• Target. (2023, February 28). Q4 & FY2022. https://corporate.target.com/article/2023/02/q4-
fy2022
• TGI Fridays menu with prices. (2023, August). Fast Food Menu
Prices. https://www.fastfoodmenuprices.com/tgi-fridays-menu-prices/
• The Kroger Co. (n.d.). https://www.thekrogerco.com
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kroger/history/
• The News-Messenger. (2019, October 31). New Fremont Kroger store opens Wednesday.
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store-opens-wednesday/4098735002/
• Walmart. (2022). FY2022 Annual Report.
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Report.pdf%20sa
• WallStreetMojo. (n.d.). Oligopoly: Definition, Types, Characteristics, Examples.
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• YouTube. (2021, January 5). Lower than low deals: Kroger Commercial | Kroger. YouTube.
https://www.youtube.com/watch?v=68T2nu0baWs

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Week 2 Economics Presentation

  • 1. Jennifer Fiddes, Tyler Madison, and AJ Spears Margaret Cox - Introduction to Economics - 08/04/23
  • 3. 3
  • 4. The Kroger Company is an American company that operates multi- department stores and supermarkets throughout the United States. 4
  • 5. • Founded in 1883, in Cincinnati, Ohio. • Kroger started as a singular grocery store at 66 Pearl Street in downtown Cincinnati. • In 1902, they rebranded as “Great Western Tea Company” until 1946 when they assumed their present name “The Kroger Company”. • Today Kroger operates in 35 of 50 United States, under 28 different names, such as; Dillons, Food-4-Less, Fred Meyer, Fry’s, Harris Teeter, Jay-C, King Soopers, Kroger, QFC, Ralphs, Roundy’s, and Smith’s. 5 Target Market: Insider states that Kroger's typical shopper is a married suburban Baby Boomer who has at least some college education and an annual income of more than $80,000. 5
  • 6. Top Competitors 6 All three are multi-department stores with locations throughout the United States, however, Costco requires a paid membership to shop at their stores.
  • 9. 9 2022 Sales Revenue: $572.75B Quarterly Sales Revenue in 2019 - 2022
  • 10. 10 Kroger’s Sales Revenue in 2014 - 2022, by Category •Kroger is the third largest grocery chain in the United States, and they are the largest in four of the 50 states. •Their sales consist of groceries, general merchandise, and fuel. •In an audited report from 2022, Kroger’s total company sales were $148.3 billion USD. •Increasing from their 2021 total sales of $137.9 billion USD. •Even during the pandemic in 2020, Kroger earned $132.5 billion USD from sales.
  • 11. In 2012, International Business Economics concluded that The Kroger Company is an oligopoly. 11
  • 13. 13 If consumers income rises, they will be more likely to buy higher priced groceries and opposed to store or generic brand groceries. Everyone needs to buy groceries, so demand does not fluctuate with income as much as other goods and services. Richer people spend more on groceries, so a rise in income means more demand for groceries.
  • 15. 15 TGI Fridays is a restaurant. Their prices range from $6.99 to $24.49. If their prices were to rise, demand for groceries would rise, as people would eat out less. 7-11 is a convenience store chain. Their prices range from $1 to $15 dollars. If their prices were to fall, grocery prices would fall as well, as people would choose the more convenient option. Rite Aid is a drug store chain that also sells groceries. Their prices range from $3 to $13. If their prices were to fall and their selection to rise, grocery store prices would fall, as it is more convenient to get both your drugs and your groceries at the same place and not everyone can afford Kroger's chosen in-store pharmacy.
  • 16. 16 All-Clad is a producer of cookware. Cookware is complementary to Kroger because consumers need it to make meals. All-Clad is a premium cookware brand and their ten-piece set of pots and pans costs $1499.99 at Crate and Barrel. If the price of cookware were to rise, the demand for groceries would be less, and people would eat out more. Magic Chef is a kitchen appliance brand. Magic Chef prices range from $100 for a microwave to $300 for a refrigerator or freezer. If the price of kitchen appliances were to rise, the demand for groceries would fall. This is because kitchen appliances are needed to prepare and store the groceries
  • 17. 17 There is a trend towards online grocery shopping in the industry. It is convenient, and many learned of this convenience during Covid.
  • 18. 18 Inflation caused many buyers to change their shopping habits. Even though inflation is going back down, many consumers are still trying to save money on groceries.
  • 19. 19 The Consumer Confidence Index has seen an uptick in the past three months. This should lead to more purchases of higher quality food, which should result in more profits for Kroger
  • 20. 20 Number of Buyers  If consumer incomes rise, there will be fewer customers at Kroger, as people will shop at more expensive grocery stores.  If the population of the United States fluctuates, there will be more or less grocery buyers.  As people come of age and start their own households there will be more grocery buyers.
  • 21. 21 Elasticity The grocery business involves the sale of necessities, so is inelastic. Changing prices do not affect the grocery business very much.
  • 24. 24 In January 2021, Kroger started testing an A.I.shopping cart in Cincinnati, OH sponsored by Caper Inc. In April 2021, Kroger introduced their first automated warehouse in Monroe, OH. In May 2023, it was announced that Kroger was set to partner with Cooler Screens to deliver 500 smart screens to their stores. T E C H N O L O G Y For the past few years, Kroger has made considerable strides towards innovating their company.
  • 26. 26 E N T R Y E X I T  Kroger’s tagline is “Fresh for Everyone” noting their prioritizing quality products and availability to consumers.  Keeping customer data gives them a leg up on consumer interests and needs.  Consistently readjusting tech and operations for a seamless in-store and online experience.  Branching out beyond its standing as a grocery retailer.  (Competitors) Inability to take on greater expenses to maintain comfortable prices for consumers as well as fund necessary company growth and/or operations.  Lack of technological foresight stagnating company growth.  Rely solely on manual labor/tech (cashiers, stockers, etc.).
  • 27. 27 170 fine jewelry stores 2,256 pharmacies 1,585 supermarket fuel centers 2,750 grocery retail stores Headquartered in Cincinnati, Ohio 465,000 employees Establishments
  • 28. 28 Graphs of Covid-19’s Impact on Kroger
  • 29. References 29 • Kroger Company (KR) stock forecast, price targets and analysts predictions - TipRanks.com. (2023, July 12). TipRanks | Know Who to Trust. https://www.tipranks.com/stocks/kr/forecast • Kroger reports Fourth Quarter and Full-Year 2022 results announces growth expectations for 2023. (n.d.). https://ir.kroger.com/CorporateProfile/press-releases/press-release/2023/Kroger- Reports-Fourth-Quarter-and-Full-Year-2022-Results-Announces-Growth-Expectations-for- 2023/default.aspx • 7-11 logo. (n. d.). Wikipedia. https://upload.wikimedia.org/wikipedia/commons/thumb/4/40/7- eleven_logo.svg/544px-7-eleven_logo.svg.png?20160121231038 • 7-Eleven menu prices. (n. d.). pricelisto. https://www.pricelisto.com/menu-prices/7-eleven • All-Clad ® copper core 10-piece cookware set with bonus. (n. d.). Crate and Barrel. https://www.crateandbarrel.com/all-clad-copper-core-10-piece-cookware-set-with- bonus/s586171 • AlphaStreet News. (2022, February 15). Walmart Earnings: All You Need To Know About Walmart's Q4 2022 Earnings Results https://news.alphastreet.com/wmt-earnings-all-you-need-to-know- about-walmarts-q4-2022-earnings-results/ • Best brands for kitchen utensils– chosen by you!. (n. d.). Good Burger. https://goodburgerpopup.com/brands-for-kitchen-utensils/ • Britannica. (2022, November 17). Kroger Co. https://www.britannica.com/topic/Kroger-Co • Buchholz, K. (2022, January 17). Kroger employees struggle with high cost of living. Statista Daily Data. https://www.statista.com/chart/26611/kroger-employees-selected-markets-saying-they- couldnt-afford-groceries-rent/ • Business Insider. (2021, September 1). Kroger shopper data shows its typical customer is a suburban boomer earning over $80,000. https://www.businessinsider.com/typical-kroger- shopper-demographic-suburban-boomer-earning-80k-income-2021-9 • Chung, P. M. (2012, September 6). Oligopolies. https://international-business economics.blogspot.com/2012/09/oligopolies.html • Consumer confidence index. (n. d.). The Conference Board. https://www.conference- board.org/topics/consumer-confidence • Download Rite Aid logo transparent png. (n.d.). StickPNG. https://www.stickpng.com/img/icons- logos-emojis/shop-logos/rite-aid-logo • EconPort - Factors affecting supply. (n.d.). http://www.econport.org/content/handbook/supply/changeSupply.html#:~:text=If%20the%20price %20of%20inputs,to%20an%20increase%20in%20supply • FourWeekMBA. (n.d.). How Does Costco Make Money? A Comprehensive Overview. https://fourweekmba.com/how-does-costco-make-money/ • Galloway Architecture, Engineering and Survey. (2021, January 27). The Kroger Co. Fueling Program - Galloway Architecture, Engineering & Survey. Galloway Architecture, Engineering & Survey. https://gallowayus.com/project/the-kroger-co-fueling-program/ • Grocery inflation continues to concern consumers, most of whom are buying fewer items. (2022, October 25). Marketing Charts. https://www.marketingcharts.com/industries/cpg-and-fmcg- 227650 • Kroger/Albertsons: On Track for Early 2024 - The Anchor. (n.d.). https://anchor.placer.ai/the- anchor/kroger-albertsons-on-track-for-early-2024 • Kroger. (2021, June 14). "@_shelbiemarie Thank you for shopping with us!" [Tweet]. Twitter. https://twitter.com/Kroger/status/1404504704305285637 • Kroger Co. (2023, March 2). Kroger Reports Fourth Quarter and Full Year 2022 Results, Announces Growth Expectations for 2023. https://ir.kroger.com/CorporateProfile/press-releases/press- release/2023/Kroger-Reports-Fourth-Quarter-and-Full-Year-2022-Results-Announces-Growth- Expectations-for- 2023/default.aspx#:~:text=Total%20company%20sales%20were%20%24148.3,21.4%25%20of%20sa les%20 • Kroger Stories. (n.d.). Our History. https://www.krogerstories.com/ourhistory/ • Kroger tests ‘smart’ shopping cart from Caper. (2021, January 19). Supermarket News. https://www.supermarketnews.com/technology/kroger-tests-smart-shopping-cart-caper • Logo for TGI Friday's, redesigned in 2013. {n. d.). Wikipedia. https://en.wikipedia.org/wiki/TGI_Fridays#/media/File:Tgi_fridays_logo13.svg • Logo of All-Clad. (n. d.). Wikipedia. https://en.wikipedia.org/wiki/All-Clad#/media/File:All- Clad_logo.jpg • Macrae, M. (2023, January 13). 8 trends expected to dominate the grocery industry in 2023. Graceland Fruit. https://www.gracelandfruit.com/8-trends-expected-to-dominate-the-grocery- industry-in-2023/ • Magic Chef in home. (n. d.). Walmart. https://www.walmart.com/browse/shop-by-brand/magic- chef/3734780_8307801_1626948 • Magic Chef logo. (n. d.). MC Appliance. https://mcappliance.com/media/brands/logos/mgchef- logo.png • Momin, A. (2023, January 8). Kroger SWOT Analysis 2022: How they can beat the competition. PESTLE Analysis. https://pestleanalysis.com/kroger-swot- analysis/#Diversification_in_Stores_and_Products • Moran, C. D. (2023, May 30). Kroger brings digital smart screens to 500 locations. Retail Dive. https://www.retaildive.com/news/kroger-expands-digital-smart-screens-coolers/651556/ • Online grocery market. (n. d.). Precedence Research. https://www.precedenceresearch.com/online- grocery-market • Our Brand – The Kroger Co. (n.d.). https://www.thekrogerco.com/about-kroger/our- brand/#:~:text=Fresh%20for%20Everyone%20is%20Kroger's,fresh%2C%20affordable%20and%20deli cious%20food • Our Business – The Kroger Co. (n.d.). https://www.thekrogerco.com/about-kroger/our-business/ • Park, E. (2020, April 23). Kroger, Albertsons least hard hit by coronavirus. 2020-04-22 | Supermarket Perimeter. https://www.supermarketperimeter.com/articles/5025-kroger- albertsons-least-hard-hit-by-coronavirus • Pettinger, T. Elasticity of demand for food. (2017, February 7). Economics Help. https://www.economicshelp.org/blog/2621/economics/elasticity-of-food/ • Post, S. (2021, February 12). 5 ways technology can save small business owners time and money. Business Insider. https://www.businessinsider.com/sc/how-technology-can-help-businesses- save-time-and-money-2021-2 • Ritchie, H. (2023, January 19). Engel's law: richer people spend more money on food, but it makes up a smaller share of their income. Our World in Data. https://ourworldindata.org/engels-law- food-spending • Saunders, N. (2019). 5 ways Kroger is winning the grocery wars. Flywheel Content Studio. https://www.onespace.com/blog/2018/03/5-ways-kroger-is-winning-the-grocery- wars/#:~:text=Even%20though%20it%20is%20useful,customer%2Dcentric%20products%20and%20pr opositions • ScrapeHero. (n.d.). 10 Largest Grocery Chains in the USA - Location Reports. https://www.scrapehero.com/location-reports/10-largest-grocery-chains-in-the-usa/ • ScrapeHero. (n.d.). Kroger Company USA - Location Reports. https://www.scrapehero.com/location-reports/Kroger%20Company- USA/#:~:text=There%20are%202%2C916%20Kroger%20Company,Company%20stores%20in%20the% 20US • Shop Rite Aid grocery. (n. d.). Rite Aid. https://www.riteaid.com/shop/grocery • Statista. (2021). Kroger's sales revenue in the United States from 2020 to 2021. https://www.statista.com/statistics/717489/kroger-sales-revenue/ • Target. (2022). Target Corporation Annual Report 2022. https://corporate.target.com/_media/TargetCorp/annualreports/2022/pdfs/2022-Target- Annual-Report.pdf • Target. (2023, February 28). Q4 & FY2022. https://corporate.target.com/article/2023/02/q4- fy2022 • TGI Fridays menu with prices. (2023, August). Fast Food Menu Prices. https://www.fastfoodmenuprices.com/tgi-fridays-menu-prices/ • The Kroger Co. (n.d.). https://www.thekrogerco.com • The Kroger Co. (n.d.). About Kroger - History. 2023, from https://www.thekrogerco.com/about- kroger/history/ • The News-Messenger. (2019, October 31). New Fremont Kroger store opens Wednesday. https://www.thenews-messenger.com/story/news/local/2019/10/31/new-fremont-kroger- store-opens-wednesday/4098735002/ • Walmart. (2022). FY2022 Annual Report. https://s201.q4cdn.com/262069030/files/doc_financials/2022/ar/WMT-FY2022-Annual- Report.pdf%20sa • WallStreetMojo. (n.d.). Oligopoly: Definition, Types, Characteristics, Examples. https://www.wallstreetmojo.com/oligopoly/ • YouTube. (2021, January 5). Lower than low deals: Kroger Commercial | Kroger. YouTube. https://www.youtube.com/watch?v=68T2nu0baWs

Editor's Notes

  1. Considering Kroger is a retail company, there are many factors that can affect supply, and further affect prices. Whether natural or artificial, a business can expect these extenuating circumstances to either drive up or scale down their prices. An example scenario of affected inputs would be a major distributor of one of Kroger’s staple items is devastated by a hurricane. Their immediate choice for a stand in distributor would end up being a distant, smaller, and more expensive resource. This would mean Kroger would have to put up more money to make sure they have their product, and that may require them to raise the price of the product to offset their expenses. They could also limit their inventory of that specific item or temporarily substitute it for a similar, cheaper product to appease their customer base.
  2. For businesses, creating and/or adopting inventive technology is the driving force of success. Automation, artificial intelligence, smart tech, and more have created a more seamless experience for all players in the economy. Technology can save time needed for other business needs, make communication(s) and task delegation simpler, and better day-to-day operations overall.
  3. Even though the economy is still recovering from the pandemic and subsequent economic upsets, Kroger is projected to see an increase in sales and associate wages, follow through with Kroger/Albertsons merger, and expansions to their in-store tech.
  4. Even though Kroger already has competitors that came before and after it, they’ve managed to position themselves well in the retail market. Keeping customer satisfaction at the forefront of their operations, earning them 2nd place in customer loyalty and trust. Any new competition would have a hard time placing without finding a way to one up Kroger in their strongest area(s). One of the things that keeps Kroger as a frontrunner in the retail market is their choice to take on expenses to maintain wages and operations. If other competitors decide not to take on a similar methodology, especially in times of economic strain, they will not be able to compete.
  5. At the top of the pandemic, Kroger saw an upward tick in their patronship and sales. During the lockdowns and mandates, consumers relied on delivery for their necessities, which was in Kroger’s wheelhouse. Inflation affected pricing overall, and unfortunately this impacted Kroger’s employees in 2021, despite the company raising wages during the pandemic.