So do you know what the average profit margin of a grocery store in NYC is?? its 1 - 3 percent.
These stores also have to pay property taxes and rent, which the CITY stores will not..
They stand to undercut other grocery stores , so there are some critics .
"Debates over food deserts aside, Mamdani has already anticipated some pushback from his critics who say government-run grocery stores won't work.
"My answer to them is simple,"
he said. "I look forward to the competition. May the most affordable grocery store win."
But, by definition, the government-owned grocery store would not actually foster competition because it would be largely insulated from price signals and subsidized by taxpayers. "