While we knew Amazon’s recent purchase of Whole Foods meant huge things for our weekly Sunday ritual, we could only guess what the Seattle-based online retailer had in store (pun intended)—until now.
In a press release, Amazon announced it will immediately begin slashing prices at the grocery store that’s long been the playground for upper-middle class shopping carts. The price cuts will begin Monday, the same day the acquisition formally closes.
“We’re determined to make healthy and organic food affordable for everyone. 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.
The products in the announcement include some of Whole Foods’ most popular items, such as organic bananas, farmed-raised salmon, organic eggs and many of its in-house 365-brand products. (Those same private-label items will soon be available to order online at—you guessed it—Amazon.com.)
Even better—Amazon Prime members will soon be able to take part in a Whole Foods rewards program, providing essentially everyone you know with special discounts and various benefits that have yet to be revealed. Select Whole Foods stores will also have Amazon lockers available, where customers can pick up their shipped items (or return them) during grocery store runs.
This is clearly all good news, but other grocery stores seem to be trembling as we excitedly renew our Prime memberships. According to Food & Wine, the news caused shares of competing grocery stores, including Kroger, Walmart and even Target, to fall.