What happens to Whole Foods prices - ForumDaily
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What happens to Whole Foods prices

Фото: Depositphotos

Five weeks have passed since Amazon's purchase of Whole Foods, with a flurry of reports of price cuts. But other than avocados, almond milk and some groceries, prices have fallen only slightly - about 1% - since purchases, according to an analysis by research firm Gordon Haskett.

For 5 weeks, the firm tracked the prices of 110 items at Whole Foods in Princeton, NJ and found that prices were down 1,2 percent on average after Amazon completed a purchase.

And while Amazon offered discounts on a number of items at once, some of those prices bounced back, according to the data. For example, the price of frozen food on September 26 was 7% higher than on August 28, when Amazon officially announced the purchase. Snacks were up 5,3% over the period, while dairy and yoghurts were up 2%.

Whole Foods—popularly known as “whole paycheck”—has struggled for years with a reputation for overpricing food. Grocery prices here have historically been 15 percent higher than the average grocery store, according to Morgan Stanley.

Amazon took advantage of this gap by announcing that the first step after buying food would be to cut prices. From the outset, the company said that members will experience price reductions with a range of products: eggs, avocados and organic apples.

Analysts believe that the company specifically chose everyday food. The average buyer, they say, is quicker to notice a lower price for eggs than for anchovies.

Data from the application, based on Foursquare's location, found an 25-percent increase in the number of buyers in the days following Amazon's takeover.

“The bottom line is that lower prices keep people coming into stores,” said Phil Lempert, a food industry analyst in California known as a “supermarket guru.” “People who hadn’t been there in years suddenly thought maybe it was worth going in.” . This was a clear sign to shoppers—and to the industry—that Amazon was serious about fixing the situation."

Of the 110 items the firm tracked, prices fell 17 items and rose 16 items. The vast majority of prices—70 percent of items—remained unchanged.

But according to industry analysts, the grocery business is notoriously complex and profitable. A drop in prices in one area often means the need to offset these discounts elsewhere.

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