Whole Foods has gained a cult following over the past decade with celebrities and organic food lovers frequenting the store for their daily quinoa and green juice hit.
- Whole Foods and Amazon plan to cut the costs of items like salmon, bananas, brown eggs, lean ground beef, almond butter, apples, chicken and more. Customers will also be able to send returns back to Amazon by visiting a Whole Foods store.
Even with the price adjustments, Whole Foods co-founder and CEO John Mackey said the supermarket will continue its commitment to local suppliers and natural and organic food.
On Monday, when Amazon's acquisition of the Whole Foods Market grocery store chain closes, prices will be reduced on "best-selling staples across its stores", according to a press release issued this morning by Amazon.
Seattle-based Amazon wrote in its news release Thursday that this is just the beginning. The two companies plan changes in merchandising, logistics and other areas to further lower prices, they said. Whole Foods wins because now they have the ability to charge less for their products because Amazon is so big, they can be more efficient to afford to lower prices. Whole Food's private label brands, including 365 Everyday Value, Whole Foods Market, Whole Paws and Whole Catch, will be available through Amazon.com, AmazonFresh, Prime Pantry and Prime Now.
Because we already knew that it's powerful enough to dominate 43 percent of all online commerce, and powerful enough to basically acquire Whole Foods for free, since Amazon's stock jump after the original announcement was more than the Whole Foods purchase price.
Additionally, Amazon lockers will offer Whole Foods groceries as these will start showing up in "select" Whole Foods stores.
Amazon expects to wrap up its acquisition of Whole Foods on Monday and is apparently ready to start combating that "Whole Paycheck" joke on day one. Now, after receiving approval from the Federal Trade Commission for the deal on Wednesday, that merger will be done come Monday.