Recent evidence illuminates the importance of relatively new concepts in grocery retailing, such as the concept of food values. The present work aims at analyzing the influence of: (i) food values on key non-financial results, particularly satisfaction and loyalty; and (ii) satisfaction on loyalty. The paper makes a further delineation for both satisfaction and loyalty (i.e., with the product and with the grocery store), as well as considers the potential implications derived from the COVID-19 pandemic. With these objectives in mind, the paper distributed an online survey to the residents of Toledo (Spain) during April and May 2020 (a period characterized by a national lockdown, where grocery stores and essential business were open to the public). This effort produced 303 valid questionnaires and the resulting data were analyzed by using descriptive statistics alongside linear parametric regressions. The findings show how food values have a positive and significant influence on both types of satisfaction and loyalty; there is also a significant and positive influence of both types of satisfaction on both types of loyalty. Moreover, the results corroborate previous works about the most influential food values. These findings highlight the importance of considering food values in grocery retailing in order to achieve key non-financial benefits. The paper ends with a discussion of several interesting managerial guidelines, particularly in light of situations like the COVID-19 pandemic.