Amazon slashes prices on hundreds of Whole Foods items

Ann Santiago
April 3, 2019

This is the third round of price cuts at Whole Foods since it merged with Amazon in August 2017.

And Whole Foods executives said more price reductions are on the horizon.

Kingsview Asset Management CIO Scott Martin, FBN's Susan Li, River Twice Capital President Zachary Karabell and Barron's senior editor Jack Hough on how Whole Foods cut its workers hours after Amazon raised its minimum wage to $15.

"Whole Foods Market continues to maintain the high quality standards that we've championed for almost 40 years and, with Amazon, we will lower more prices in the future, building on the positive momentum from previous price investments", said John Mackey, Whole Foods Market co-founder and CEO.

Amazon Prime members will find twice as many deals. For April, that means fruits and vegetables like rainbow chard, mangoes, and cherry tomatoes. Beginning April 3, all shoppers can expect lower prices on produce and expanded deals on popular products for Prime members.

Amazon said it will cut prices on hundreds of items sold at Whole Foods starting on Wednesday, countering the grocery chain's image that shoppers required their "Whole Paycheck" to shop at its locations. On Wednesday, the retailer announced that it's slashing prices on hundreds of store items.

Amazon continues to use its Whole Foods acquisition as a way to grow its Prime membership.

"Every time a customer walks into a Whole Foods Market, they expect and trust industry-leading quality standards across aisles", said Jeff Wilke, CEO of Amazon Worldwide Consumer, in a statement. "Over the past year, we've been working together tirelessly to pass on savings to customers", said Jeff Wilke, CEO of Amazon Worldwide Consumer. Whole Foods may be focusing on discounting fresh items now to improve turnover and reduce its own food waste, he says. The newspaper also reported the news of the current price cuts earlier Monday.

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