Amazon Is Slashing Prices of Whole Foods
CNN/Stylemagazine.com Newswire | 4/5/2019, 10:10 a.m.
Amazon has trained its Prime members to expect low prices. So naturally those shoppers have been reluctant to dish out for expensive groceries at Whole Foods. Amazon bought Whole Foods in 2017 for nearly $14 billion to gain entry into the $860 billion US grocery industry. Amazon hoped the deal would help it convert Whole Foods' shoppers into Prime members. The retailer also set its sights on an even bigger opportunity: Convincing more of its approximately 100 million Prime members in the United States to buy their groceries at Whole Foods. Amazon has tried to make Whole Foods more attractive to Prime members since the acquisition. Amazon initially cut prices on products like salmon and avocados. Then it began offering an extra discount on sale items exclusively for Prime shoppers last year to sweeten the Whole Foods offer.