Amazon to reduce Whole Foods prices after acquisition
Initially estimated to worth US $13.7 billion, the all-cash transaction has been expected to result in lowering of prices at Whole Foods stores.August 25, 2017 | comments ( 0 ) |
Amazon.com has announced it will lower the prices of the organic food range of Whole Foods Inc. after closing the deal to acquire it. According to Amazon, this move will help in making the organic food affordable for everyone.
As what the world’s largest Internet-based retailer called a down payment, the grocery store chain featuring foods without artificial preservatives, colours, flavours, sweeteners and hydrogenated fats will offer lower prices starting next Monday on a selection of best-selling grocery staples across its stores.
Initially estimated to worth US $13.7 billion, the all-cash transaction has been expected to result in lowering of prices at Whole Foods stores.
Whole Foods, Headquartered in Austin, Texas, has more than 460 stores in the US, Canada and Britain.
The e-commerce giant headquartered in Seattle, Washington state, said it will begin to integrate Amazon Prime, a paid subscription service offered by Amazon.com that gives users access to free one-day delivery and other benefits, into the Whole Foods Market point-of-sale system, and when this work is complete, Prime members will receive special savings and in-store benefits.
Known for its aggressive market approach and a deep pocket for investment, Amazon noted that “this is just the beginning — Amazon and Whole Foods Market plan to offer more in-store benefits and lower prices for customers over time as the two companies integrate logistics and point-of-sale and merchandising systems.”
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