Markets

Amazon to cut prices on hundreds of Whole Foods items this week

Amazon to cut prices on hundreds of Whole Foods items this week

This isn't the first time the company adjusted price tags.

In an effort to attract new shoppers, Whole Foods Market - which was bought by Amazon almost two years ago - is slashing its prices by about 20 percent on hundreds of items starting Wednesday, the grocer announced. On Wednesday, the retailer announced that it's slashing prices on hundreds of store items.

Ever since Amazon bought Whole Foods, the grocery chain has been locked in a struggle between embracing its original "Whole Paycheck" identity and discovering a new, slightly more affordable one.

The bulk of the cuts come in the fresh produce department. Mangoes, for example, are now a $1 each, and organic bunched yellow chard will run you $1.99.

Turkey votes in local polls which could deliver a blow to Erdogan
Some 57 milion people will vote in local elections in Turkey's capital and the country's overall 81 provinces. What does this have to do with the country's survival?" Kilicdaroglu told a rally in Eskisehir.

This is according to The Wall Street Journal, which reports prices will be cut an average of 20 percent on select items. This includes 35% off all Justin's brand products, 40% off all Kite Hill plant-based products, and a 20% reduction for all prepared sandwiches and wraps.

"Customers have saved hundreds of millions of dollars through lower prices and Prime member deals", Whole Foods said in a press release. Prime members can also receive an additional 10% off hundreds of sale items throughout the store. And, to entice shoppers to become Prime members, customers can get a special $10 off a $20 purchase coupon with an offer found at Amazon.com/WholeFoods10 starting Wednesday.

Mackey added that the company will continue to focus on lowering prices. Beginning April 3, all shoppers can expect lower prices on produce and expanded deals on popular products for Prime members.

The decision to pare back prices comes amid heightened competition in the grocery segment, driven especially by Walmart's push to expand in the food-retail category, said Moody's analyst Charlie O'Shea. The company did not, however, address its part-time workers.


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