Here's how much Amazon lowered Whole Foods prices

Chelsea West
August 29, 2017

That's obviously an added perk for existing Prime members and could coax Whole Foods rewards members to join Prime if they haven't already, but neither company has said what the change will mean for existing Whole Foods Rewards programs members nor did they offer much in the way of specifics in the press release, saying that "Prime members will receive special savings and in-store benefits". In addition, Amazon has plans to integrate Amazon Prime into the Whole Foods Market point-of-sale system, translating into lower prices for Prime members, along with some in-store benefits.

Whole Foods-brand products will now be available through Amazon.com and other Prime platforms, such as Prime Now with same-day delivery service available in some markets. Amazon reduced the price of Organic Fuji Apples by 43 percent - from $3.49 a pound to $1.99. Whole Foods earned a reputation for high prices, getting the nickname Whole Paycheck. Deeper price cuts on Monday appeared focused on organic goods that attract a narrower band of shoppers. And Amazon brings a degree of purchasing power, as one of America's largest retailers, to the table that Whole Foods could only dream about.

Bag filled with groceries from the Whole Foods market at Colonie Center on Monday, Aug. 28, 2017, in Colonie, N.Y. Amazon cut prices at the upscale supermarket on Monday after its buyout of the natural-foods chain was finalized.

"Amazon can lower prices without putting any pressure on suppliers", said Bill Bishop, co-founder of Brick Meets Click, a retail consultancy headquartered in Barrington, Ill.

As part of Amazon's putting its stamp on the grocer, Whole Foods stores displayed promotions for Amazon's Echo speaker in tongue-in-cheek fashion, with signs reading "Farm Fresh" and "Pick of the Season".

Cynthia Von Weiss, 62, groused about the "ridiculous" high price for chicken salad as she shopped at the West Loop Whole Foods and said the store would have to aggressively compete with local grocers to win her loyalty. The company on Wednesday received the green light from the Federal Trade Commission that the deal with Whole Foods had passed the smell test and it was free to proceed with merger proceedings.

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At the same time, Costco has a complete lineup of organic products that are approximately 30% less than the same items at Whole Foods.

After first announcing the deal in June, Amazon said last week it expected to close the acquisition Monday.

Amazon has bought Whole Foods, a more niche-oriented grocery store. Whole Foods, which started in Austin, Texas in 1980, operates 468 stores in North America and the United Kingdom.

Meat and fish prices were also cut.

The simplest way for Amazon and Whole Foods to quickly expand their footprint enough to seriously threaten Canadian retail giants in Canada would be to acquire an existing company, according to National Bank of Canada analyst Vishal Shreedhar.

The organic supermarket is located downtown inside the elegant Hahne mixed-use building on Broad Street, home to several businesses and offices, including a Petco and Express Newark university-community collaboratory, along with 160 market-rate and affordable apartments.

Other reports by TheSundaySentinel

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