
Holiday Grocery Shopping Trends & The Value of Americans' Grocery Dollar | November 7, 2023
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Layered into this discussion are additional insights from FMI's Power of Foodservice at Retail 2023 report. We discuss a recent analysis FMI conducted in conjunction with Cal Poly ag economist Dr. Ricky Volpe that examines the value of Americans’ grocery dollar since 2001, providing historical context into shoppers’ food at home purchasing power over the last two decades compared to the current inflationary environment.
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Leslie G. Sarasin
President and CEO
FMI - The Food Industry Association
Leslie G. Sarasin is the President and CEO of FMI – The Food Industry Association. Under her leadership, FMI has become a member-centered organization, helping food retailing venues find innovative ways to feed families and enrich lives. Before joining FMI 16 years ago, Sarasin was the president and CEO of the American Frozen Food Institute. She holds a JD from the University of San Diego and a BA in economics from Smith College.
Sarasin is admitted to practice law in California and the District of Columbia. She serves on the Boards of the U.S. Chamber of Commerce, Partnership for a Healthier America, and the Congressional Hunger Center. She is also involved with the National Association of Manufacturers and the International Women’s Forum of Washington, D.C. and serves on the Business Advisory Council of Western Kentucky University’s Gordon Ford School of Business.
Sarasin has been recognized multiple times as a Progressive Grocer “Top Women in Grocery” and among Mass Market Retailer’s “Most Influential Women.” She received the Hospitality Good Scout Award in 2019 and was named “Association CEO of the Year” by CEO Update in 2021.

Dr. Ricky Volpe, Ph.D.
Professor
Cal Poly, San Luis Obispo, CA
Ricky Volpe received his Ph.D. in Agricultural and Resource Economics from UC Davis in 2010. He then spent four years working as an economist at the USDA Economic Research Service in Washington DC. There he researched a variety of topics, including food price formation, competitiveness in the food industry, and the healthiness of grocery purchases in the U.S. Ricky was also responsible for forecasting retail food price inflation at the national level.
Now at Cal Poly, Ricky teaches courses on food retail and supply chain management, transportation and logistics, and data analysis. He also maintains an active research agenda using a variety of large data sets to study issues related to market structure, firm performance, food prices, consumers’ food choices, and health outcomes. He also works closely with industry leaders in food retailing, wholesaling, and distribution to facilitate collaboration on public-private partnerships, student internships, and scholarships.

Rick Stein
Vice President, Fresh Foods FMI
FMI - The Food Industry Association
Rick Stein joined FMI in 2014, and is responsible for developing a portfolio of services and activities to assist members in formulating and executing their fresh food strategies. These categories include everything from – dairy, frozen, meat, poultry, seafood, and produce to service departments – deli, bakery and fresh prepared meals and related solutions for take-out or in-store dining.
Prior to joining FMI, Rick spent 35 + years in a wide range of retail grocery merchandising and marketing responsibilities. Most recently Stein was the Vice President of retail marketing & merchandising execution for Safeway Stores, Inc. Previously he held both divisional and corporate responsibilities in his tenure at Safeway in retail/store operations, category management, sales, marketing/merchandising, and strategy development. He has experience in virtually every facet of the retail food business and helped lead Safeway to achieve operational excellence and increased market share and revenues.Stein graduated from the University of Maryland with a bachelor of Arts in Behavioral and Social Sciences. He has earned continuing educations credits in marketing, merchandising and management, most recently with the Disney Institute. Rick serves on numerous nonprofit boards such as the MDA, Children’s Cancer Foundation and Easter Seals of DC/VA/MD.

Steve Markenson
Vice President, Research & Insights
FMI - The Food Industry Association
Steve Markenson leads FMI’s research & insights practice. Markenson is a market research executive with 30 years of progressive experience in his field – from research assistant to president of a full-service national market research firm – and his diverse experience includes research design, information/data collection and analysis and strategic planning.
In his role at FMI, Markenson oversees the research & insights practice at FMI, specifically the study design, survey fielding and efforts with outside knowledge partners and FMI subject matter experts. He leads the discovery process on the latest industry trends and operational insights that champion FMI as a credible voice of the food retail industry.