Amazon.com Inc. (NASDAQ: AMZN) is back at it again, slashing its prices, this time at its recently acquired organic grocer, Whole Foods. The e-commerce empire announced that it would be cutting prices on holiday staples and other groceries.
Amazon has done a good job of making what was previously referenced as “Whole Paycheck” more appealing to more consumers. Even though Jeff Bezos’s strategy always seems to be beating the competition on margin and absorbing the cost, this move looks to really benefit the consumer. When Amazon first acquired Whole Foods, it slashed prices by as much as 43%.
Customers will be able to purchase organic or non-antibiotic turkeys at a reduced price of $3.49 per pound and $2.49 per pound, respectively. Another perk of Amazon Prime is that members will save an additional $0.50 per pound on either variety. Amazon did not directly say how much of a discount it would be offering to Amazon Prime members on other goods.
Whole Foods will also offer lower prices on an additional selection of customer favorites across its stores, including: value pack boneless skinless chicken breasts (organic and no antibiotic), responsibly farmed raw peeled shrimp, and holiday favorites such as 365 Everyday Value canned pumpkin, organic broccoli, 1-lb. organic salad mixes, organic russet potatoes and organic sweet potatoes. All customers will also see reduced prices on products from some of the most well-respected natural and organic brands.
John Mackey, Whole Foods Market co-founder and CEO, commented:
These are the latest new lower prices in our ongoing integration and innovation with Amazon, and we’re just getting started. In the few months we’ve been working together, our partnership has proven to be a great fit. We’ll continue to work closely together to ensure we’re consistently surprising and delighting our customers while moving toward our goal of reaching more people with Whole Foods Market’s high-quality, natural, and organic food.
Shares of Amazon were last seen down fractionally at $1,127.77, with a consensus analyst price target of $1,220.74 and a 52-week trading range of $735.61 to $1,139.90.