Amazon plans big price cuts at Whole Foods Markets

Amazon unveils Prime discounts, Lockers at Whole Foods
Amazon to cut Whole Foods prices Monday
Author

26 August, 2017

Amazon and Whole foods announced that the online marketplace's acquisition of the specialty food retailer will officially close on August 28.

Less than a day after federal regulators in the U.S. approved Amazon's $13.7 billion takeover bid for Whole Foods, the Silicon Valley retail titan wasted no time in saying it would lower prices at the upscale grocery chain. What that means, is, when the work is done, Prime members who visit Whole Foods in-store will receive even more special savings.

The targeted products include select bananas, organic Gala and Fuji apples, organic rotisserie chicken, responsibly farmed salmon, organic brown eggs, ground beef, almond butter and 365 Everyday Value organic butter. On Friday, a grocery bag of those items rang up at about $40.50 at Whole Foods - including the chicken on sale for $2 off - compared to under $34 at both Stew Leonard's and Stop & Shop, the former a local favorite and the latter the largest chain operating in southwestern CT. Now it is just a matter of time to see what effect brick-and-mortar supermarkets will see from the take over of Whole Foods. "If Amazon is able to translate their dynamic pricing capability to the physical stores, traditional grocers will be under pressure to match that ability-regardless of whether they match prices".

"We're determined to make healthy and organic food affordable for everyone". Customers can have products shipped from Amazon.com to their local Whole Foods Market store for pick up or send returns back to Amazon during a trip to the store. In the 23 years Amazon has been in business, he has done it again and again - with books, diapers and now groceries - fundamentally changing entire retail categories.

-Amazon said it will cut prices on a range of popular goods as it completes its acquisition of Whole Foods, sending shares of rival grocers tumbling on fears that brutal market share battles will intensify.

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Whole Foods now represents less than 2% of the overall grocery market. According to the Wall Street Journal, stock values for the six largest food retailers, including Kroger Co., and Walmart, fell off around $12 billion.

Here's a close look at Amazon's ambitious plans for Whole Foods.

Additionally, Amazon announced that the two are working on integrating Amazon Prime into Whole Food's point-of-sale system. If Amazon is soon able to achieve a seamless view, traditional retailers will also be pressured to "stop viewing their worlds by channel", he said.

The day after the Federal Trade Commission (FTC) stated that there would be no further investigation into Amazon's purchase of Whole Foods Market and if it created unfair industry competition, Amazon dropped the announcement of the price drops.

The acquisition also shows Amazon's continued expansion of Prime.


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