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Amazon Cuts Prices at Whole Foods by Up to 43 Percent on First Day

Image: Amazon Cuts Prices at Whole Foods by Up to 43 Percent on First Day

A customer enters the Whole Foods Market in Superior, Colorado. (Rick Wilking/Reuters)

Monday, 28 August 2017 09:24 AM

Amazon.com Inc. spent its first day as the owner of a brick-and-mortar grocery chain cutting prices at Whole Foods Market.

At the Whole Foods on 57th Street in Manhattan, organic fuji apples were marked down to $1.99 a pound from $3.49 a pound; organic avocados went to $1.99 each from $2.79; organic rotisserie chicken fell to $9.99 each from $13.99 and the price of some bananas was slashed to 49 cents per pound from 79 cents. The items marked down had orange signs reading “Whole Foods + Amazon.” The signs listed the old price, the new price and “More to come...”. 

Lori McNichol, a resident of Manhattan’s Upper East Side, said she was doing her regular grocery shopping Monday morning and wasn’t lured by lower prices. Still, she has high hopes for the supermarket’s new owner.

“I thought I could probably get things delivered, which would be exciting,” she said.

Amazon acquired the upscale supermarket chain for $13.7 billion, sending competitors such as Kroger Co., Costco Wholesale Corp. and Wal-Mart Stores Inc. reeling. Whole Foods earned a reputation for high prices, getting the nickname Whole Paycheck.

The cuts add another front to a price war that’s already raging across the supermarket sector. Retailers from Wal-Mart to European-based discounters look to grab shoppers’ attention. The battle has shaved profit margins and prompted companies to look at new selling strategies, like Wal-Mart’s decision last week to sell its goods on Google’s online marketplace.

Shares of Kroger fell as much as 2 percent in early trading on Monday.

Product

Thurs., Aug. 24

Mon., Aug. 28

Percentage Change

Whole Trade Organic Bananas $0.99 per pound $0.69  -30%
Whole Trade Bananas $0.79 per pound $0.49  -38%
Responsibly-Farmed Atlantic Salmon Filet $14.99 per pound $9.99 -33%
Responsibly-Farmed Tilapia $11.99 per pound $7.99 -33%
Organic Large Brown Eggs $4.29 per dozen $3.99 -7%
Animal-Welfare-Rated 85% Lean Ground Beef $6.99 per pound $4.99 -29%
Organic Avocados $2.79 each $1.99 -29%
Organic Baby Kale (packaged) $3.99 per package $3.49 -13%
Organic Baby Lettuce (packaged “Sweet Baby Lettuces”) $3.99 per package  $3.49 -13%
Creamy Almond Butter $7.99 per pound
(1 jar)
$6.99 -13%
Crunchy Almond Butter $7.99 per pound
(1 jar)
$6.99 -13%
Organic Gala Apples $2.99 per pound $1.99 -33%
Organic Fuji Apples $3.49 per pound $1.99 -43%
Organic Rotisserie Chicken $13.99 each $9.99 -29%
365 Everyday Value Organic Butter (salted and unsalted) $5.29 per pound
(four sticks)
$4.49 -15%

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Amazon.com Inc. spent its first day as the owner of a brick-and-mortar grocery chain cutting prices at Whole Foods Market.
amazon, whole foods, prices
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2017-24-28
Monday, 28 August 2017 09:24 AM
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