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Amazon Cuts Whole Foods Prices as Much as 43% on First Day

posted by cmn32480 on Wednesday August 30 2017, @06:54AM   Printer-friendly
from the good-for-the-consumer dept.

Phoenix666 writes:

Amazon.com Inc. spent its first day as the owner of a brick-and-mortar grocery chain cutting prices at Whole Foods Market as much as 43 percent.
...
The tech giant's $13.7 billion purchase of Whole Foods has sent shock waves through the already changing $800 billion supermarket industry. The wedding between Amazon and the upscale grocery promises to upend the way customers shop for groceries. Cutting prices at the chain with such an entrenched reputation for high cost that its nickname is Whole Paycheck is a sign that Amazon is serious about taking on competitors such as Wal-Mart Stores Inc., Kroger Co. and Costco Wholesale Corp.

"Price was the largest barrier to Whole Foods' customers," said Mark Baum, a senior vice president at the Food Marketing Institute, an industry group. "Amazon has demonstrated that it is willing to invest to dominate the categories that it decides to compete in. Food retailers of all sizes need to look really hard at their pricing strategies, and maybe find some funding sources to build a war chest."

"Whole Paycheck" is now "Half Paycheck."

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  • (Score: 1, Interesting) by Anonymous Coward on Wednesday August 30 2017, @02:34PM (3 children)

    by Anonymous Coward on Wednesday August 30 2017, @02:34PM (#561510)

    I'm smiling, not because prices are lower at Whole Foods (I've hardly ever shopped there), but because progressive elites, and progressive elite wannabes, will now have to share their precious Whole Foods with the hoi polloi they secretly hate. High prices kept out the riffraff. Not any more.

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  • (Score: 2) by takyon on Wednesday August 30 2017, @04:46PM

    by takyon (881) <takyonNO@SPAMsoylentnews.org> on Wednesday August 30 2017, @04:46PM (#561569) Journal

    Bovine Viral Diarrhoea outbreak wipes out the value of ButtCoin! News at 9!

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  • (Score: 2) by takyon on Wednesday August 30 2017, @05:07PM (1 child)

    by takyon (881) <takyonNO@SPAMsoylentnews.org> on Wednesday August 30 2017, @05:07PM (#561580) Journal

    Amazon can't really bring Whole Foods prices down to Aldi prices. They have lowered the prices of some items from 30-40%, but most have gotten a smaller decrease or aren't mentioned by Bloomberg. Poor people aren't going to come in to Whole Foods just because Fuji apples are at $1.99.

    Potentially, the Amazon connection and price decreases will bring in a more trashy class of sub-elite Amazon Prime users. Or maybe they will stay home and order online.

    Side note: Where to rank Trader Joe's on the trash-elite scale?

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    • (Score: 0) by Anonymous Coward on Wednesday August 30 2017, @10:27PM

      by Anonymous Coward on Wednesday August 30 2017, @10:27PM (#561787)

      > Where to rank Trader Joe's on the trash-elite scale?

      I'm sure I bring ours down toward trash every time -- old clothes, pony tail, untrimmed beard, shoes falling apart, the sad old hippie look. Looks can be deceiving...