Economy

Food Fight: Amazon cuts Whole Foods prices for Prime members

Food Fight: Amazon cuts Whole Foods prices for Prime members

With the growing interest in organic food items and the booming USA economy, a chain like Whole Foods could be seeing plenty of growth in the years to come.

Prime members now save more at Whole Foods Market. As The Wall Street Journal points out, Prime sign-ups may be slowing, as analysts believe the service has saturated affluent households in the U.S. However, research from Morgan Stanley found that 38% of Whole Foods shoppers - around 5 million households - aren't Prime subscribers. Out of the many items carried, Prime discounts will apply to a relatively small number and could help encourage shoppers to purchase items that may not be priced as aggressively.

Sustainably-sourced, wild-caught halibut steaks: $9.99/lb., save $10/lb.

To get the discount, Prime members will have to scan their Whole Foods Market app at checkout. New and exclusive offers will rotate weekly. In fact, the new discounts replace Whole Foods weak customer loyalty program that ended on May 2.

Cashierless Amazon stores coming to Chicago
But don't help out strangers: Amazon warns that grabbing an item from the shelf for someone else means you'll be charged for it. Using the Amazon Go App to enter, it implements what the company calls "walk out technology".

Cold-brew coffee at Allegro coffee bars: 50 percent off 16 oz. As has been predicted for months, Amazon's announcement, made late last night, was that all Prime account holders are now eligible to receive 10 percent off sale items in stores - potentially hundreds of products at any given time. The discounts could also drive more people to shop at Whole Foods: When it offered turkey discounts a year ago for Prime members, Amazon said the grocer broke its record for turkeys sold during the Thanksgiving season. There are also exclusive member deals, like roses on Valentine's Day and free Prime Now delivery of Whole Foods products among 10 cities. It also announced it would raise the annual cost of membership by 20% to $119 a year, from $99.

Combined with its evolving online grocery assortment, Amazon and Whole Foods remain as large a threat as ever to the industry.

Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. That service, launched in February, is now available at Whole Foods locations in 10 US metropolitan markets: Denver, Sacramento, San Diego, Los Angeles, San Francisco, Atlanta, Austin, Cincinnati, Dallas and Virginia Beach.


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