Grocery Outlet estimates saving customers $2.8B in 2023

Grocery Outlet on Thursday released its second annual Impact Report, which focuses on the value it provides to its shoppers and the benefits it brings to its communities and to its independent operators (IOs).

“We firmly believe that our success is intertwined with the well-being of our IOs, employees, communities, and customers,” said R.J. Sheedy, president and CEO, in an introductory letter in the report.

Grocery Outlet, which often buys overstocked and discontinued items at a deep discount, said its procurement model is one of the key ways it provides savings to customers and thus improves food access to groceries. It estimated that last year it passed on about $2.8 billion in savings to customers last year

The company said its environmental, social, and governance (ESG) mission revolves around its “Touching Lives for the Better” commitment.

Among the highlights of the report:

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The report also highlighted the retailer’s efforts to reduce its carbon footprint and improve energy efficiency by implementing energy-saving measures in its stores. All of the stores use an energy management system to gain control and visibility of energy use. Highlights of the energy-management initiatives include: