Amazon has confirmed John Mackey will remain as CEO of Whole Foods and its headquarters will stay in Austin, Texas. The larger fall here could be due to the uncertainty about the future of Amazon's wholesale agreement to sell fresh food in the United Kingdom with the supermarket. The deal comes as Amazon has looked to expand its own grocery stores and food markets.
Now that Amazon has officially taken over Whole Foods, they're doing something that shouldn't surprise anyone... they're discounting some of the products.
Organic bananas dropped from $0.99 to $0.69. Organic avocados-the primary obstacle to millennial homeownership are down from $2.79 to $1.99.
It wasn't clear whether the United Kingdom would see any differences on Day One of the $13.7bn takeover, but it soon became obvious that plans have been in place for some time and ready to roll out. Before this merger, Whole Foods struggled for years to shed its "Whole Paycheck" image, but Whole Foods' challenges were positive for other organic grocers, who were able to fill a niche for more affordable organic and specialty food products.
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But that's not the only major change.
"We're growing something good", said a large sign at the entrance with Amazon and Whole Foods logos.
The slashed prices could come at a cost, Lauren Beitelspacher, an assistant professor of marketing at Babson College, told USA Today.
Experts are unsure about how this will affect general grocery stores across the country. From fresh fish to produce, prices were down across the board.