If you utilize Amazon’s Whole Foods Market, or if you’ve ever wanted to try the service, we have good news. Amazon is cutting its prices on hundreds of items at Whole Foods. It’s the third time they’ve marked down products in two years.
The majority of the cuts apply to produce, and customers can save an average of 20% off select items. The changes go into effect on Wednesday. Prime members will receive double the amount of weekly deals and an additional 10% off select sale items. Prime members in metro areas can also receive free delivery if they spend at least $35.
Amazon purchased Whole Foods in 2017 for $13.7 billion. It has been trying to revitalize the store’s image ever since. When the brand was first purchased, Amazon cut prices on organic brown eggs, salmon, and avocados — among other items. Even though the online giant slashed the price of some items, prices have still risen for three months. They were found to be 15% higher than the prices at other similar stores.
Walmart, Costco, and Kroger have all cut prices, and pressure from Aldi, or Lindl, is further pushing the cost of food down. “They’ve driven prices down, cleverly,” said the Walmart US CEO, Greg Foran.
Revenue at Whole Foods’ physical stores fell 3% during Amazon’s most recent quarter. The decrease in sales was blamed on an accounting change and a shift in the calendar. The online retail giants has plans to open its own grocery stores, which will be separate from Whole Foods. The stores will offer a wider variety of products, including beauty and health products, at cheaper prices. Amazon’s goal is to gain shoppers separate from Whole Foods’ privileged customers.
