Smith's Food & Drug is Salt Lake City's favorite grocer
Smith's Food & Drug Center is the most popular grocery chain in the Salt Lake City area, with 26.8% of the market share as of last year, Axios' Alex Fitzpatrick and Erin Davis report.
Driving the news: Walmart and Costco are the second- and third-most-popular grocers, with 20.8% and 14.5% of the local market share, respectively.
- That's according to new data from Chain Store Guide, which tracks the retail and food service industries.
The big picture: While national behemoths such as Walmart are typically among the most popular grocers — if not the most beloved — in any given city, local and regional favorites can give the big box stores a run for their money.
- Shoppers often develop allegiances toward their local favorites, too; just ask anyone from upstate New York how they feel about Wegmans, for instance, and there's a good chance it'll be like they're talking about their dearest friend.
- "At a time when politics divides opinion nationally on many big brands, grocery brands have been able to maintain loyalty and trust across demographics by maintaining a steady presence in their communities," Axios' Sara Fischer and Emily Peck write.
By the numbers: Americans' grocery spending is topped by the dollars spent dining out in the post-pandemic era.
- "People spent 20.7% more at restaurants than they spent on groceries in 2022 — and that figure rose to 29.5% in the first two months of the year, according to Commerce Department data compiled by JLL," Axios' Nathan Bomey writes.
What's next: Amazon — which acquired Whole Foods in 2017 for $13.4 billion — is looking to dramatically expand the grocery wing of its commerce empire, Axios' Richard Collings and Kimberly Chin write.
- "We need a broader physical store footprint given that most of the grocery shopping still happens in physical venues," Amazon CEO Andy Jassy recently wrote in a letter to shareholders.
💭 Kim's thought bubble: I'm a Harmons girl thanks to their selection of salsas and handmade pasta.
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