For years, health conscious consumers have jokingly called Whole Foods, “Whole Paycheck.” Is the era of a shopping trip taking a giant chunk of a paycheck coming to an end? In June of 2017, Amazon announced that it would be buying organic giant, Whole Foods. Their 13.7B cash deal will be finalized this Monday, August 28.
Amazon is known for making very competitive deals on products and it does not look like that will change with the acquisition of Whole Foods on Monday. In fact, Jeff Wilke, the executive of Amazon’s consumer businesses announced that starting Monday, Whole Foods will begin to reduce their prices. He stated, “We’re determined to make healthy and organic food affordable for everyone.” This is a bold statement, especially considering how GMO foods apologists use the argument that organic food is an elitist pursuit and certainly not something that the average American would want or be able to obtain.
Not only will Whole Foods be reducing their prices, but Amazon plans on using its convenient Amazon Prime Membership program to incorporate a Whole Foods shopping rewards program. Also, Whole Foods’ private label products will be available online with Amazon.
Will they be able to edge out other companies like Trader Joe’s, Costco, Sprouts and Kroger that are also building up their organic offerings? Only time will tell, and that time starts on Monday.