Salmon, tilapia prices lower as part of Amazon's acquisition of Whole Foods

Salmon, tilapia prices lower as part of Amazon's acquisition of Whole Foods

Salmon, tilapia prices lower as part of Amazon's acquisition of Whole Foods

"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".

After completing its $13.7 billion purchase of Whole Foods on Monday, Amazon slashed the prices of dozens of items at all 460 of its new grocery stores.

The company hasn't released too many details about the perks, but what is known is that prime members will get special savings and in-store benefits that other customers won't receive.

The company also said certain Whole Foods products will be available through Amazon.com, AmazonFresh, Prime Pantry and Prime Now.

Organic fuji apples and bananas were among the most heavily discounted foods.

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. The Kroger Co. dropped almost 8 percent, and Supervalu Inc. fell more than 6 percent.

Yet, perhaps the biggest sign that Amazon has moved in: Whole Foods is now selling gadgets.

Amazon-style discounts on food items sold through Whole Foods Market will lead to big market share gains in the grocery category, says Morgan Stanley.

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Amazon is trying to be more price competitive with Walmart, Kroger and Costco in the $800 billion supermarket industry. "So is Whole foods going to help us do that?" Lastly, Prime members will be able to order food items online at Amazon.com and pick them up at an Amazon Locker located at their nearest Whole Foods.

John Mackey will remain chief executive of Whole Foods and the company will operate as a subsidiary and continue to be headquartered in Austin, Texas, the companies said on Thursday.

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. "They're partnering with local farms and go back to being what Whole Foods was originally".

At least one Federal Reserve official has indicated that Amazon's purchase of Whole Foods could further weigh on overall inflation.

This $13.7B transaction, Amazon's largest ever, marks its aggressive foray into the ~$700B groceries USA market, one of the segments least penetrated online, and where we believe Amazon brings several unfair competitive advantages, that should drive market share gains and better profitability.

Walmart, which has been ramping up its online operation, has added more fresh-cut fruit and is rolling out curbside pickup.

Starting Monday, Whole Foods Market will offer lower prices on a selection of best-selling staples across its stores, with much more to come.

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