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Why Whole Foods prices will go down Monday

26 August, 2017, 01:15 | Author: Paula Vaughn
  • Amazon will lower Whole Foods prices right away and Prime members will get special discounts

The move should also help Whole Foods draw back customers after struggling to grow, burdened by its "Whole Paycheck" reputation and beset by increased competition from other grocers.

The price drops that take effect Monday are for items including Whole Trade bananas, organic avocados, organic large brown eggs, organic responsibly farmed salmon and tilapia, organic baby kale and baby lettuce and more.

Amazon.com, now closing its acquisition of Whole Foods Market Inc., announced on Thursday its plan to make the latter's natural and organic food "affordable for everyone".

"This is just the beginning", Amazon said in a press release. He says there could be benefits for consumers even if they don't shop at Whole Foods.

"It's been our mission for 39 years at Whole Foods Market to bring the highest quality food to our customers", co-founder and CEO John Mackey said.

Amazon's digital disruption of the food business
If you're an Amazon Prime member, you will have another way to use your membership and take advantage of lower Whole Foods prices. Ahead, 14 products that we know for sure are going to be cheaper at Whole Foods starting this Monday, August 28 .

The Whole Foods deal is part of Amazon's growing grocery retail footprint, as the company also recently opened two AmazonFresh Pickup stores in Seattle and is testing the first checkout-free Amazon Go convenience store.

Amazon [IRDX RAMZ] has set out its plans for developing Whole Foods Market as soon as its acquisition of the organic foods specialist, which has nine United Kingdom stores, closes on Monday. Customers will be able to order online and pick up their groceries at select Whole Foods locations that have Amazon Lockers. Stores will also begin integrating Amazon Prime into the Whole Foods point-of-sale system; once that's ready, Prime members are going to get "special savings" and "in-store benefits".

Royal Ahold Delhaize (ADRNY), the Dutch owner of Food Lion, shares fell sharply in Amsterdam Friday morning, as the supermarket absorbed news that Amazon (AMZN) would lower prices at Whole Foods Market (WFM).

Amazon has been in the process of buying Whole Foods for a while and on Monday, the $14 billion deal will be finalized now that the Federal Trade Commission approved the deal.

In June 2015, New York City's Department of Consumer Affairs actually accused Whole Foods of "systematic overcharging for pre-packaged foods" - as much as $14.84 for a package of coconut shrimp.

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