Amazon slashes grocery prices as Whole Foods deal closes

Violet Tucker
August 29, 2017

"This is just the beginning - we will make Amazon Prime the customer rewards program at Whole Foods Market and continuously lower prices as we invent together".

Amazon is just using Whole Foods for data mining, alleged NPR, saying that many Amazon Prime customers shop at Whole Foods. Amazon will also place its Amazon Lockers package pickup machines in some Whole Foods stores, and make Whole Foods' private label products available on its website, on AmazonFresh, on Prime Pantry, and Prime Now.

Yet the idea that the upscale natural-foods-oriented chain with an outsized reputation for hefty price tags - remember its derisive moniker: "Whole Paycheck" - is charging less has consumers and the grocery industry considering the impact this price-trimming will have on pocketbooks, shopping patterns and competitors.

In the press release, the two companies added they would cut prices on certain items at Whole Foods, including products such as Whole Trade bananas, organic avocados, organic large brown eggs, organic responsibly-farmed salmon and others. "But it's impressive to see Amazon moving so quickly and the price drops are a great way to get customers to see the integration as a win from day one, even if some of them might have qualms about Amazon as a company".

"All the signs in the store are saying, 'Look what Amazon's doing for you, '" said Stephen Beck, who owns a management consulting firm in NY.

Electronic assistant and voice activated Amazon Echo was for sale as well at Whole Foods for the price of $99.99, a big pivot into electronics for a business known for selling quinoa and kale.

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Share prices of grocery chains tumbled when Amazon announced the Whole Foods acquisition in June.

That market disruption is based not on what Whole Foods is today, but on what it can become. Still, Ms. Bradford, an Amazon Prime member, said cheaper Whole Foods prices after the merger could "only could be a good thing".

"Generally Whole Foods goes into markets with six-figure incomes and college-educated residents". "Everybody should be able to eat Whole Foods Market quality".

Kroger is the No. 1 supermarket chain by revenue of $115.3 billion in 2016, with brands that include Fry's, Ralphs, Smith's, Fred Meyer and Food 4 Less.

Founded in 1978, Whole Foods Market is the first national "Certified Organic" grocer, bringing in approximately $16 billion in sales past year.

Whole Foods offers a wide variety of organic and vegan choices, fresh produce and flowers, bakery items, beauty and health products, meat and seafood and prepared foods, along with in-store café-style seating. Some of the steepest price cuts were on meat: Fresh Atlantic salmon dropped by a third from$15 to $10 a pound, and Hass avocados by almost half. Amazon has not indicated whether it will break out Whole Foods operations in its financial statements or fold them into its current retail operations.

Other reports by Guamnewswatch

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