KGMI News
SEATTLE, Wash. (AP) – Amazon completes its purchase of grocery-store chain Whole Foods on Monday.
Amazon plans to use its deep pockets to make big changes at Whole Foods, saying it will cut prices on bananas, eggs, salmon, beef and more when it completes its $13.7 billion takeover next week.
Helping Whole Foods win back customers who found “good enough” organic and natural products elsewhere — possibly at a lower cost — fits Amazon’s track record of keeping prices low to lock in customer loyalty.
In the future, Amazon Prime will become the rewards program for Whole Foods customers.
There will eventually be Amazon lockers in stores for returning items bought online.
Analyst Neil Saunders of GlobalData Retail called it an “opening salvo” in the grocery wars. Shares of other supermarkets fell sharply.
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