Amazon’s takeover of Whole Foods in August has transformed the US grocery market in a matter of months.
Amazon has slashed prices across its newly acquired organic grocer Whole Foods by as much as 43 percent, sending shock waves throughout US and British retailers.
Amazon intends to slash prices of products sold by Whole Foods on Monday, the day it takes control of the upmarket grocer and rival supermarket chains aren’t pleased.
Amazon’s bid for Whole Foods earlier this year took investors and the industry by surprise.
Tesco, the UK’s biggest supermarket announced plans to launch a same-day delivery service across the country on Monday.
Amazon’s acquisition of Whole Foods signals that it intends to be a major player in the grocery sector, but the $13.7bn deal also brings all kinds of other opportunities for Amazon to exploit its technological advancements.
Amazon’s purchase of Whole Foods Market has demonstrated its ambition to dominate both online and brick-and-mortar retail.
E-commerce giant Amazon said on Friday that it had agreed to buy Whole Foods, the upmarket grocery chain in a $13.7bn (£10.7bn) deal.
John Mackey, the chief executive of Whole Foods, attacked one of the health-focused US supermarket chain’s biggest investors, Jana Partners as “greedy bastards” on Thursday.
Back in its youth, Whole Foods was the cool kid of grocery retail.