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Amazon to drop prices, add benefits at Whole Foods

Amazon to drop prices, add benefits at Whole Foods”

"It's all about speed, speed, speed".

But it is not just for Amazon Prime members.

Bob Hetu who is a Gartner analyst said that Amazon is letting other competitors know that they are on the market. Shares of Wal-Mart fell by as much as 3 percent in reaction. "It's an opportunity for Whole Foods to capture more wallet share of its best customers, provided the program has the right components and you really get rewarded for shopping at or visiting Whole Foods", says Sucharita Mulpuru, a retail industry analyst.Amazon's new physical bookstores have Prime tightly integrated into store transactions and they have a distinct pricing structure for Prime customers, she notes. And it will turn them into Amazon customers and advance its bid to become the dominant player in all of retail - the so-called everything store.

"We're determined to make healthy and organic food affordable for everyone", Wilke, who will speak at the upcoming GeekWire Summit, said in a statement.

Whole Foods now represents less than 2% of the overall grocery market.

Whole Foods Market started in 1980, a natural food supermarket which -through its pursuit of excellent quality and dedication to its mission - has grown into a world leader in natural and organic foods. In the past, Amazon has challenged Barnes & Noble on books prices. Amazon and Walmart have been in an on-and-off price war in a variety of categories for years. Quidsi, the diaper producing company, is a good example.

Amazon is cutting the prices of bananas, butter, organic eggs, and other best-selling staples at Whole Foods' 470 stores, promising customers lower costs and targeting the grocer's "Whole Paycheck" nickname.

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Amazon bought Whole Foods Market in a $13.7 billion deal.

Online retailer Amazon is to slash prices at USA supermarket chain Whole Foods Market Inc in a move which could threaten supermarket rivals. It promised there would be further cuts in the future. But under Amazon, Whole Foods poses a legitimate threat. The company's prices are about 15 percent higher than at the average grocery store, according to Morgan Stanley. Customers can have products shipped from Amazon.com to their local Whole Foods Market store for pick up or send returns back to Amazon during a trip to the store.

A number of groups, including members of Congress and representatives of organized labor, have raised concerns about how the acquisition may affect competition in the grocery business, but the Federal Trade Commission had no trouble with it.

Meanwhile, select Whole Foods Market stores will offer Amazon Lockers.

In a dual press release, both companies announced the deal is set to close Monday, August 28.

Amazon announced plans to buy Whole Foods in June. "And so does Whole Foods need to be the cheapest or least expensive retailer out there? No". They are known for operating with speed in the last few years.

The acquisition also shows Amazon's continued expansion of Prime. More items will follow. "If the shareholders don't see WalMart doing something they get nervous and say maybe we should sell our stock and do something else".



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