In characteristic speedy fashion, Amazon.com is wasting no time and will lower prices when the doors of Whole Foods Market open on Monday.
The announcement erased nearly $12 billion of value from grocery stocks.
"Everybody should be able to eat Whole Foods Market quality -- we will lower prices without compromising Whole Foods Market's long-held commitment to the highest standards," Jeff Wilke, CEO of Amazon Worldwide Consumer, said in the announcement.
Among the items that will be marked down are organic avocados, organic brown eggs, organic salmon, almond butter, organic apples and organic rotisserie chicken. Amazon Prime members will get additional discounts at Whole Foods and Amazon will sell Whole Foods store brands online.
Amazon Prime, which comes with a $99 annual subscription fee and a lower tier, will become the customer-rewards program for Whole Foods.
Amazon lockers where customers can pick up Amazon.com purchases or send back returns will appear in select Whole Foods stores. Logistics and point-of-sale systems will also be integrated.
Whole Foods-brand products will now be available through Amazon.com and other Prime platforms, such as Prime Now, the same-day delivery service available in some markets. The store's brands include the Whole Foods label, 365, Whole Paws and Whole Catch.
Earlier this week, both Whole Foods shareholders and the FTC gave the green light to the $13.7 billion deal. The acquisition, which is the largest grocery deal in history, was completed in record time -- less than three months.
Published on WholeFoods Magazine Online, 8/25/17
WholeFoods Magazine is not affiliated with Whole Foods Market.
