By now you've probably heard mega online retailer Amazon is buying mega supermarket Whole Foods, and today Amazon announced the deal will make it through the checkout line on Monday.
To mark the merger's close and give shoppers a taste of what's to come under new ownership, Amazon is also lowering prices on a number of Whole Foods' best-selling items beginning Monday, with more price cuts on the way.
Lower prices will go into effect for staples such as select organic apples, Whole Trade bananas, organic avocados, organic and responsibly farmed fish, organic baby kale and organic large brown eggs.
If you've ever shopped at Whole Foods you know just how expensive buying a few items can be, let alone doing a week's worth of groceries for an entire family. You might as well sell your car.
Jeff Wilke, CEO of Amazon Worldwide Consumer, said in a release the companies are determined to make “healthy and organic food affordable for everyone.”
“Everybody should be able to eat Whole Foods Market quality – we will lower prices without compromising Whole Foods Market's long-help commitment to the highest standards,” he said.
Additional lower prices will arrive over time as the two companies integrate their systems and logistics.
Amazon Prime perks on Aisle 7
But reasonably priced avocados aren't the only change afoot. Eventually, Amazon Prime members who shop at Whole Foods will get special savings and other perks in-store as well, Amazon said.
Whole Foods private label products will also be sold through Amazon.com, AmazonFresh, Prime Pantry and Prime Now. And Amazon Lockers will be set up in select stores.
Amazon is clearly ready to redefine Whole Foods as a more affordable health-food store, which is good for consumers but could have massive repercussions for other grocers.
Stores that aren't backed by one of the wealthiest companies on the planet could struggle with the new lower prices, and some potentially could go out of business. Small businesses that couldn't compete with Amazon met this fate; now, smaller grocers could wither in Whole Foods' shadow.
- Expect big savings on Black Friday and Cyber Monday