This week, Michelle Terpstra sits down with Dr. Ricky Volpe, a professor of agribusiness at Cal Poly specializing in food retail and supply chain economics, to unpack what’s really driving food prices, grocery store margins, and profitability from farm to shelf. This conversation reframes the food system as a business ecosystem shaped by data, power, and strategic decision-making, not just inflation headlines. Ricky explains why most farms are price-takers, how consolidation has reshaped agriculture, and why the farm share of the food dollar is far smaller than most people expect. Michelle and Ricky then explore one of the most overlooked profit levers in food retail: private labels and store brands. From Trader Joe’s to Costco, they break down why store brands reduce middlemen, improve margins across the supply chain, and open massive opportunities for farmers, manufacturers, and independent retailers alike. The episode closes with a look at the future of grocery, the role of data in driving profitability, and why the next generation of agribusiness leaders will need both analytical rigor and operational empathy to thrive.Chapters[Start] Why Food Prices Feel So Confusing: Ricky introduces the hidden mechanics of food pricing and explains why grocery frustration is often disconnected from how the system actually works.06:50 The Food Dollar Explained: A breakdown of where each dollar spent on food actually goes, and why farms receive a surprisingly small share.12:39 Small Farms, Market Power, and Co-Ops: How consolidation impacts farmers, why most are price-takers, and how cooperatives help smaller producers regain leverage.20:24 Private Labels and Margin Magic: Why store brands lower costs, reduce supply-chain transactions, and create higher margins for retailers and producers.58:07 The Missing Role in Grocery Retail: Ricky explains why data analysts may be the most valuable and overlooked hire for improving grocery profitability.Links & ResourcesAccess All Revenue Rascals Resources for FREE at https://bit.ly/rascalresourcesOne-time sign-up gives you everything you need.Got a question for Michelle? Fill out this form for a chance to have your question answered during the coaching corner that drops inside each episode on Tuesdays. Submit a Question to MichelleWant my eyes on your revenue strategy? Grab a call with Michelle.Revenue Rascals Discovery Call with Michelle TerpstraCheck out three ways Michelle and her team can support your path to predictable growth. Uncover your Sales Leadership IQ and get your personalized plan for leading through change. quiz.revenuerascals.comConnect with Michelle:MichelleTerpstra.comLinkedInInstagramConnect with Ricky:Ricky Volpe, Ph.D.Today’s Sponsors: INDEStoveGet a free workspace stack (a $120 value) with the purchase of a stove when you use promo code: REVENUERASCALSJason Markk Get 25% off with promo code: REVENUERASCALSDisclaimer: Some episodes of Revenue Rascals may include paid sponsorships or affiliate partnerships. We only feature brands, products, or services that align with our values and are relevant to helping founders, revenue leaders, and entrepreneurs grow. Sponsorships help support the show—opinions shared are always our own. Michelle Terpstra's Privacy Policy
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32 mins