LETTER TO THE EDITOR

To the Editor,
As a small-town grocery store owner, I am disappointed with the political rhetoric blaming food prices on grocery stores and asserting that grocery stores are price gouging. It is also disappointing to hear a presidential candidate proposing price fixing to solve higher food prices which I believe is caused by inflation. I have owned the Lake Benton Grocery Store since March of 2020, and my experience permits me the ability to speak on this topic.
The reported national profit average for grocery stores is 1.6% which is consistent with my store. This demonstrates that I am not making much money by owning a store. We do it as a labor of love for the community and pride of ownership. For comparison, the average 20-year return in the stock market S&P 500, as reported in 2024, is 10.16% and when adjusted for inflation it is 7.41%. This is a notable example of why small-town grocery stores are not being built and those that exist need your support. If you have the money to build a store you would financially do better by investing in the market.
I see NO evidence of price gouging in my supply chain. I know farmers and ranchers are NOT price gouging. I know that I am NOT price-gouging. I know that the cost of materials, labor, and transportation have gone up significantly for numerous reasons. I know that while the political rhetoric is asserting price gouging, the politicians have not specifically identified where it is occurring in the production or supply chain or named exactly who is doing it.
I have heard politicians talk about and describe price fixing as a solution and walk those comments back when faced with negative public reactions. Price fixing is not the solution. As a small-town grocery store owner, I carry products that I can afford to sell, and that you can afford to buy. If prices are fixed so that I cannot cover my costs of operations (labor, utilities, maintenance, debt) I will not be able to carry those products or I will not be able to stay open. We have seen the results of price fixing in foreign countries and it is something we cannot live with in the U.S.
You are very blessed if you have a small-town grocery store in your community. Support them because when it is gone it will never come back. Small-town grocery stores hire locally and customize their offerings to fit their community. They support other local businesses and events. People like to move to communities that have a local grocery store. If you want to see your small-town grocery store survive, vote for candidates that make it easier to operate a small business. Support those that have policies focused on deregulation, and tax relief.

Bill Bolt
Owner of Lake Benton Grocery Store