Amazon completed its multi-billion dollar acquisition of Whole Foods Market. As a first order of business, the online behemoth slashed prices across the board.
For example, organic avocados are down from $2.79 a pound to $1.99, a 29 percent discount. Atlantic-farmed salmon is down 33% to $7.99 per pound. Organic Fuji apples are down 43% to $1.99 a pound.
For years, Whole Foods was considered the rich people’s supermarket, with high quality products, but at outrageous prices. Often known as “Whole Paycheck”, the chain has been a trailblazer in organic, sustainable, ethical, and ethnic foods and beverages. The chain has helped educate the public and in doing so, carved itself a niche of loyal customers willing to spend more for healthier fare.
Amazon’s logistics, paired with Whole Foods’ food expertise sounds like a winning combination – healthy foods at low costs. However, economies of scale are often at odds with organic and sustainable practices. Think of grass-fed beef vs factory farmed beef. Will Amazon-Whole-Foods find the winning formula?