“DOMINANT NATIONAL CHAINS OR SO-CALLED “POWER BUYERS” ABUSE THEIR IMMENSE ECONOMIC POWER TO THE DETRIMENT OF COMPETITION AND AMERICAN CONSUMERS”. GREG FERRARA, CEO OF THE NGA 吀栀e report warns, however, that moves by larger customers to buy one of the few remaining market participants rather than building that capability from scratch could leave the remaining buyers, notably smaller competing 昀椀rms, even worse o昀昀. Companies relying on traditional grocery retail models faced challenges due to higher prices, while those following an “Everyday Low Price” strategy were less a昀昀ected by the reduction in promotional spending. 吀栀erefore, the impact of reduced promotional spending varied across di昀昀erent retail strategies. 吀栀e pandemic highlighted the importance of supply chain diversi昀椀cation and pricing strategies in mitigating risks and ensuring resilience in uncertain market conditions. “By relentlessly optimizing for leanness in our supply chain, businesses chose again and again short-term savings over our long-term resilience. In 2020, we saw the profound costs of these choices. 吀栀is study shows many of the severe impacts that supply shocks had on this brittle, ‘e昀케cient’ system. Widespread, substantial, sustained shortages, sometimes of critical goods that American families relied upon,” stated FTC Commissioner Rebecca Kelly Slaughter, regarding the FTC Sta昀昀 Report, Feeding America in a Time of Crisis. AABBAASSTOTO..CCOOMM MMAAYY/J/JUUNNEE 2 2002244 5577