Amazon Slashes Prices on Hundreds of Whole Foods Products | Financial Buzz

Amazon Slashes Prices on Hundreds of Whole Foods Products

Amazon Inc. (NASDAQ: AMZN) is cutting prices on hundreds of products at Whole Foods in the hopes of changing the grocery store’s high-cost image. Amazon aims for its grocery chain to keep up with other large food sellers like Walmart (NYSE: WMT) and Aldi.

Beginning Wednesday, Whole Foods said customers can expect to save an average of 20% on new reduced-priced items, including greens, tomatoes and tropical fruits.

Amazon Prime members have even more to look forward to later this week. Whole Foods said they’ll double the number of weekly deals for Prime subscribers in addition to 10% off hundreds of already discounted items. Over the next few months, shoppers can expect to find more than 300 Prime member deals. Over the past two years, Whole Foods has offered a number of perks for Prime members including 30-minute grocery pickup and “ultrafast” two-hour delivery.

Starting Wednesday through the end of the month, customers who give Prime a try can get USD 10 off a USD 20 in-store purchase at Whole Foods.

“When Whole Foods Market joined the Amazon family, we set out to make healthy and organic food more accessible. Over the last year, we’ve been working together tirelessly to pass on savings to customers,” said Jeff Wilke, CEO of Amazon Worldwide Consumer. Amazon bought the grocer in August 2017 for nearly USD 14 Billion.

The chain’s last major price cut was in November 2017. Shortly after being acquired by Amazon, Whole Foods dropped its prices on avocados, organic brown eggs, salmon, and other items.