Friedberg Says NYC's 5 City-Run Groceries Will Outperform Private Chains on 30% Discounts
Updated
Updated · Business Insider · Aug 3
Friedberg Says NYC's 5 City-Run Groceries Will Outperform Private Chains on 30% Discounts
2 articles · Updated · Business Insider · Aug 3
Summary
David Friedberg said New York’s planned city-run grocery stores are likely to succeed in the near term, arguing critics are wrong to assume they will “radically fail.”
Five stores—one per borough—are backed by $70 million, with Mamdani promising roughly 30% discounts on staple items such as produce, meat and dairy; the first Bronx site is due in 2027.
Friedberg said those subsidies will make the stores more attractive than chains like Whole Foods, Safeway and Albertsons, potentially driving strong demand over the next 24 months.
He argued the popularity would mask longer-term costs, warning the model could spread to other U.S. cities and fuel broader support for socialist policies even as 55% of Americans say they would not back a democratic socialist for president.