After it was announced that Amazon.com would take over Whole Foods, they also revealed they would be working to change the grocery chain’s expensive reputation.
On Monday, the company followed through on their word and slashed prices by as much as 43 percent on several items, reported Bloomberg.
According to Bloomberg, in the East 57th Street store in Manhattan, “organic fuji apples were marked down to $1.99 a pound from $3.49 a pound; organic avocados went to $1.99 each from $2.79; organic rotisserie chicken fell to $9.99 each from $13.99, and the price of some bananas was slashed to 49 cents per pound from 79 cents.”
Orange signs were placed next to the marked-down items and read, “Whole Foods + Amazon,” listed the old price and the new price, and indicated that there was “More to come.”
Amazon purchased Whole Foods for $13.7 billion.
Mark Baum, senior vice president at the Food Marketing Institute, told Bloomberg: “Price was the largest barrier to Whole Foods’ customers. Amazon has demonstrated that it is willing to invest to dominate the categories that it decides to compete in. Food retailers of all sizes need to look really hard at their pricing strategies, and maybe find some funding sources to build a war chest.”
(Photo: Spencer Platt/Getty Images)