Whole Foods Market, Inc. to Lower Prices: What You Need to Know

Amazon to cut Whole Foods prices Monday

In light of the announcement that Amazon's acquisition of Whole Foods Market is expected to close Monday, the companies announced in a joint news release Thursday that Whole Foods will begin offering lower prices on a selection of the store's best sellers.

"We're determined to make healthy and organic food affordable for everyone", Wilke, who will speak at the upcoming GeekWire Summit, said in a statement.

Amazon first announced it was buying Whole Foods two months ago for $13.7bn (£10.72bn), in a deal that would send "a shockwave across both the online and brick-and-mortar industries, uniting two brands that weren't seen as obvious partners", according to Bloomberg. The Federal Trade Commission (FTC) approved the controversial $13.7 billion transaction on August 23, as did Whole Foods shareholders.

Going even further they intend to integrate your Amazon prime membership into the Whole Foods shopping experience.

Amazon said that starting on Monday, it will cut prices on organic grocery staples such as bananas, avocados, brown eggs, farmed salmon and tilapia, baby kale and lettuce, some apples, butter, and other products.

Looking ahead, Amazon hopes to give Prime members special savings and other in-store benefits.

Other integrations include the availability of 365 Everyday Value, Whole Foods Market, Whole Paws and Whole Catch private label products for sales through all of Amazon's programs.




Additionally, you'll now be able to buy Whole Foods groceries and products on Amazon, and likewise, pick up your Amazon packages at Amazon lockers at your local Whole Foods.

Beyond the impact in the grocery area, Nick McLean, chief executive of OrderDynamics, noted the speed with which Amazon is leveraging Whole Foods store locations.

The Amazon effect will be hitting Whole Foods Market on Monday. But under Amazon, those stores will be turned into warehouses that can distribute groceries to homes around the country. 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. Kroger shares were down eight percent yesterday, and Walmart shares fell two percent yesterday as well. Amazon has more than 60 million Prime members, according to analyst estimates.

It also plans on turning Amazon Prime into a Whole Foods rewards program.

Amazon will place its Amazon Lockers package pickup machines in some Whole Foods stores. Now, with Amazon's backing, the chain stands to become a formidable competitor in what's shaping up to be a grocery-industry war.

Where there is overlap is between Whole Foods and other natural-foods grocers, SunTrust said.

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