Amazon will acquire Whole Foods on August 28 and they are planning to lower prices on select best-selling grocery items immediately.
The targeted products include select bananas, organic Gala and Fuji apples, organic rotisserie chicken, responsibly farmed salmon, organic brown eggs, ground beef, almond butter and 365 Everyday Value organic butter.
We won't know how low those prices are dropping until Monday, but it will be very interesting to see how they will compare to similar organic products offered at other local stores.
In addition, Amazon Prime members will receive “special savings” and in-store bonuses once the Amazon Prime program has been integrated with the Whole Foods system.
Another change consumers will see is that Whole Foods’ private label products (365 Everyday Value, Whole Foods Market, Whole Paws and Whole Catch) will be available to order through Amazon.com.
One of the most interesting benefits of this merger is that in select stores, customers will be able to have products sent from Amazon.com to their Whole Foods store to be picked up. And they will also be able to send returns back to Amazon from their local Whole Foods.
The $13.7 billion deal, which surprised the grocery world when it was announced on June 16, was approved by the Federal Trade Commission on August 23, 2017.
John Mackey, the Whole Foods co-founder and CEO, will stay on as CEO after the acquisition.