Published: Sat, August 26, 2017
Markets | By Terence Owen

Whole Foods prices are about to fall

Whole Foods prices are about to fall

But the real surprise came with the news that as the first initiative of their combined vision, Whole Foods will offer lower pricing on a selection of best-selling grocery staples.

Amazon plans to weave together its online business and physical stores by turning its Prime membership program into a Whole Foods rewards program, providing additional savings to customers.

The retailer also intends to make Amazon Lockers available in select Whole Foods Market stores, which means customers can have products shipped from Amazon.com to their local Whole Foods Market store for pick up.

The benefits of Amazon's backing stand to make shopping at Whole Foods more affordable and convenient, but consumers can also anticipate speedy delivery of groceries to be roped into the deal. "But with Amazon lowering Whole Foods' prices, you could get Whole Foods in towns where you don't traditionally see them", supermarket analyst David J. Livingston said. The deal received regulatory approval from the Federal Trade Commission - as well as a green light from Whole Foods shareholders - on Wednesday.

The Amazon effect will be hitting Whole Foods Market on Monday. In addition, Amazon Prime will have a new secondary objective: a rewards program for Whole Foods products, meaning even more savings.

That is roughly in line with the results of a 2016 study by Wedbush Securities, in which analysts calculated at 15 percent the premium shoppers paid at Whole Foods compared to a market basket of comparable groceries at major chains like Wegman's. Who needs that when you have millennial-friendly Amazon?

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The Seminoles and Crimson Tide, who are the first program in 12 years to take the top spot two years in a row, will meet at 8 p.m. The reigning national champion Tigers are still in the top five despite losing key players, such as Deshaun Watson.

Citing a strong overlap of upper-income consumers who use both Amazon Prime and Whole Foods, McKnight says, "They want to tie those two databases or datasets together, which makes it more valuable, because now you have this more rounded picture of what the person is doing online and offline".

Amazon takes control of Whole Foods on Monday and plans to slash prices right away. The move sends a clear message to the United States grocery industry-Amazon is ready to begin its foray into the market in much the same fashion. "Obviously the low-priced approach is in Amazon's DNA, and it's something Whole Foods has been struggling with for a quite some time".

Amazon's competitors are already taking steps to react. But I, like many others, soon found that escalating prices that entered into the realm of "ridiculous" hardly justified making it my sole source of groceries.

"Generally Whole Foods goes into markets with six-figure incomes and college-educated residents".

The acquisition also shows Amazon's continued expansion of Prime.

"We feel great about our position with our network of stores around the country and fast growing e-commerce and online grocery businesses, " said Randy Hargrove, a spokesman for Walmart.

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