Whole Foods prices slashed thanks to Amazon ownership

Javier Stokes
August 27, 2017

In particular, the Minnesota senator is anxious about the millions of new customer records and shopping details it would gain from owning Whole Foods.

A whole range of Whole Foods products are about to get cheaper thanks to Amazon's acquisition of Whole Foods Market on August 28.

Whole Trade bananas, organic avocados, organic large brown eggs and 365 Everyday Value organic butter will all have reduced prices Monday, along with other items throughout the store, according to the release. And 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. "If the shareholders don't see WalMart doing something they get nervous and say maybe we should sell our stock and do something else". But the biggest potential gains will come in Whole Foods stores, Levin and others say.

"We're determined to make healthy and organic food affordable for everyone", said Jeff Wilke, CEO of Amazon Worldwide Consumer, in a statement. Efforts to support and promote local suppliers and their products will be expanded, as well. The move sends a clear message to the United States grocery industry-Amazon is ready to begin its foray into the market in much the same fashion.

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

Amazon also said it will start selling Whole Foods brand products on its website, a move that sent down shares of packaged food sellers including Kellogg Co (K.N).

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Amazon.com (NASDAQ: AMZN) has all of the permissions in order to close on its acquisition of Whole Foods Market (NASDAQ: WFM), which was first announced in May.

Amazon is keeping good on their promise to deliver grocery discounts at Whole Foods in the hopes of attracting more customers.

Amazon will waste no time reshaping its new, 460-store acquisition. John Mackey will continue as chief executive and the headquarters will remain in Austin, Texas.

Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking.

"That's the thorny problem Amazon faces: How do you become a low-cost supermarket and still retain that cachet?" said Jeffery Inman, a marketing professor at University of Pittsburgh and president of the Society of Consumer Psychology. For more information, visit www.amazon.com/about and follow @AmazonNews.

According to Morgan Stanley, Whole Foods prices are now about 15 percent higher than the average grocery store.

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