Amazon/Whole Foods

Amazon%27s+purchase+of+Whole+Foods+brings+fresh+food+at+a+discounted+price

courtesy of Market Watch

Amazon's purchase of Whole Foods brings fresh food at a discounted price

Cedric Mathew, Scribe Editor

On August 28, 2017, the Internet giant, Amazon, officially bought Whole Foods Market in a massive $13.7 billion purchase.

The decision comes to no surprise as Amazon has always been struggling with the competition from large scale department grocery stores.

On the other hand, this purchase helps Whole Foods Market as they have been attempting to shed their reputation of being a full-paycheck store, being known for their pricey foods and inability to attract the business of low income customers. In addition, Whole Foods Market’s profit margin recently dropped  from 6.56% in 2015 to 2.44%.

The Federal Trade Commission green lit the sale in a statement released on August 23 which stated that their investigation on the purchase concluded that the acquisition did not interfere with competition.

More changes have already been put into place in Whole Foods Market stores such as lower prices and benefits for Amazon Prime members. They had their prices slashed by as much as 43%, according to Bloomberg.com. In-store benefits for Prime members will begin in the coming future.

“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,” the company said in a statement.

Amazon Fresh, the Prime perk that has popular products from beef stakes and bathroom cleaners, now contains Whole Foods Market brand products that can be shipped in the Chicagoland area directly to your door in a freshly sealed bag. Custom Whole Foods Market products will also be added onto amazon.com.

Many other commercial stores have felt the heat from Amazon’s new acquisition and have dropped their own prices, like Target and Walmart. These two stores in particular have started to lower prices substantially on the basics the companies offer to attract more customers.

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