Amazon, the online market place, will finalise the acquisition of Whole Foods Market on Monday 28th August 2017 and will immediately begin lowering their prices. In a statement released this week, Amazon confirmed the changes will start as soon as the sale of Whole Foods is finalised.
The two companies will together pursue their vision of making Whole Food’s Market’s high-quality, natural and organic food affordable for everyone. Amazon has said ‘we will lower prices without compromising Whole Foods Market’s long-held commitment’.
According to the financial service firm Cowen, Amazon-Whole Foods will be the fifth largest grocery retailer in the US behind Albertsons, Costco, Kroger and Walmart. They have more than 460 stores throughout the US, Canada and UK.
The first items to benefit from this price drop will be organic Fair Trade bananas, organic avocados, organic baby kale and baby lettuce, organic Fuji and Gala apples, and crunchy and smooth peanut butter.
Some of the first items available on Amazon will be the 365 Everyday Value range. Amazon have also confirmed there are plans to offer Amazon Prime as the customer reward program at Whole Foods stores with.
Shoppers will also be able to buy Whole Foods items through AmazonFresh, Prime Pantry and Prime Now.
John Mackey, who is a vegan, has confirmed he will remain CEO of Whole Foods Market. He also says “it’s been our mission for 39 years at Whole Foods Market to bring the highest quality food to our customers,”. “By working together with Amazon and integrating in several key areas, we can lower prices and double down on that mission and reach more people with Whole Foods Market’s high-quality, natural and organic food. As part of our commitment to quality, we’ll continue to expand our efforts to support and promote local products and suppliers. We can’t wait to start showing customers what’s possible when Whole Foods Market and Amazon innovate together.”