Amazon Plans To Slash Prices At Whole Foods
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NEW YORK (AP/KDKA) - Amazon will close its $13.7 billion buyout of Whole Foods Market Inc. on Monday and plans to cut prices on grocery staples.
Many customers can't wait for it to happen.
"I'm excited to see the changes that are going to happen. So I like Amazon. I like Whole Foods, so I think it will be a good fit," says Colleen O'Brien of Cranberry.
It's a frequent comment from Whole Foods customers.
"I think it will increase its customers. It has to. That's one of the reasons we were excited when we heard about it because we recently started shopping at Whole Foods, and I'm an Amazon customer as well," adds Kristen Kwiatkowski of Cranberry.
The first thing customers will notice under Amazon ownership is the price reduction in some, but hardly all, food items.
Starting Monday, Amazon says it will cut prices of selected organic products at Whole Foods: products like apples, avocados, bananas, some fish products, lettuce, kale, eggs, and even butter.
Some customers hope that Amazon won't be compromising the quality of Whole Foods products.
"I'm not sure what to expect. I've read that the prices are going to be less but I'm hoping that doesn't include the quality which is why I shop at Whole Foods," says Paula Holzopfal of Bradford Woods.
Amazon insists that won't happen.
But here's a change to watch for -- Amazon Prime customers will be able to order certain Whole Foods products online.
"The ability to order things ahead of time, pick up, or even have groceries delivered would be helpful," says Gillian Valore of Allison Park.
On-line is an increasingly popular way for families with children to shop for groceries.
"We buy a lot on Amazon already. We have two little kids at home, so being able to eliminate a trip to the grocery store every week would really help," says Valore.
Whole Foods shareholders approved the deal Wednesday, and the Federal Trade Commission said it would not block the deal. Amazon.com Inc. will pay Whole Foods shareholders $42 per share, marking an 18 percent premium from its stock price the day before the tie-up was announced on June 16.
(© Copyright 2017 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)
