Whole Foods will lower its prices its prices starting Monday

Whole Foods will lower its prices its prices starting Monday

In a press release detailing the imminent closing of its $13.7bn acquisition of Whole Foods Market, the e-commerce player detailed numerous changes which are set to transform grocery shopping. As the deal was cleared this week by the FTC, Amazon and Whole Foods unleashed their new grocery strategy, causing retail stocks to plunge downwards.

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

In addition, the two tech teams are integrating Amazon Prime into the Whole Foods POS system so that Prime members can receive special savings and in-store benefits.

The Amazon/Whole Foods merger promises, among other things, cheaper avocados. By lowering its prices, Amazon can open new Whole Foods locations in markets that traditionally could not afford high-priced organic bananas and responsibly farmed salmon, making a run at companies like supermarket leaders like WalMart and Kroger. "There is significant work and opportunity ahead".

The price slashing will happen incrementally, according to The Washington Post. "I won't be surprised if some prices are lowered 15 percent to as high as 25 percent in some categories". This caused the retail industry to feel the shockwaves of the Amazon effect.

By buying Whole Foods, Amazon is taking a bold step into brick-and-mortar, with its more than 460 stores and potentially very lucrative data about how shoppers behave offline.

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Whole Foods Market's healthy and high-quality private label products-including 365 Everyday Value, Whole Foods Market, Whole Paws and Whole Catch-will be available through Amazon.com, AmazonFresh, Prime Pantry and Prime Now. A further development, in relation to the physical Whole Foods stores, will be the placement of Amazon's delivery "lockers" in Whole Foods stores.

But it is not just for Amazon Prime members. "That's a competitive advantage".

It remains to be seen whether the deal will revive Whole Foods' fortunes or become a costly move into an industry that Amazon has failed to master.

Amazon's announcement comes a day after Whole Foods shareholders gave their approval and the Federal Trade Commission said it would not block the purchase.

Amazon is wasting no time in making the most of its newest division. "Ties between Prime membership and Whole Foods will make those stores a more standard destination for these shoppers". "We can't wait to start showing customers what's possible when Whole Foods Market and Amazon innovate together".

"Rivals should be under no illusion that they are now dealing with a competitor that is not afraid to damage profits and margins if it creates long-term gains", Saunders said in an analyst note.

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