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

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

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

Starting Monday, Amazon.com Inc. will lavish its most loyal customers with similar benefits and more when they shop at Whole Foods Market Inc., the high-end grocery chain it's buying for $13.7 billion.

Amazon will acquire Whole Foods on August 28 and they are planning to lower prices on select best-selling grocery items immediately.

For instance, subscribers of the Amazon Prime service will get "special savings and other in-store benefits" when they shop at Whole Foods. It's been also planned to make Amazon Prime as Whole Foods Market's customer rewards program.

"As Ranking Member of the Antitrust Subcommittee, I am concerned about the Federal Trade Commission's decision not to fully review Amazon's acquisition of Whole Foods", Klobucher said in a statement released Friday. For its part, Amazon recently announced a discounted Prime membership for those on government assistance, which should make these products more accessible. John Mackey will remain as Whole Foods Market's CEO and its headquarters will still be in Austin, Texas.

But industry experts say the Google-WalMart deal has little chance of getting in the way of Amazon's ambitions.

It's a familiar tale from Amazon, which disrupted books and other household staples by offering more competitive prices than brick-and-mortar stores.

The S&P 500 Food Retail index closed down nearly 5 percent as more than $10 billion was wiped off the market value of big food sellers.

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The list of grocery items that will be cheaper at Whole Foods markets next week ranges from bananas, apples and organic avocados to ground beef, salmon and tilapia, along with organic rotisserie chicken and other products.

Another customer said this is good news.

Beyond that, some Whole Foods stores will get Amazon Lockers, where customers can receive online orders and make returns.

Whole Foods, which is opening a store at the Shoppes at Belmont on Fruitville Pike next year, said the prices will be reduced on "best selling grocery staples". Many were anxious that the online giant would use Whole Foods' demographics to expand its food delivery services instead of focusing on making healthy produce available to more people. When Amazon purchased Whole Foods, the chain had about 460 standalone stores.

The Whole Foods Market brand will likewise be maintained.

The two companies say they'll offer more price cuts and changes in the future, after they integrate their logistics and retail systems.

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