Amazon will officially acquire Whole Foods Market on Monday, and the company announced Amazon Prime members will receive special savings and in-store benefits at Whole Foods.
Whole Foods Market will offer lower prices starting Monday on a selection of best-selling grocery staples across its stores, the company said in a statement. Amazon and Whole Foods Market technology teams will also begin to integrate Amazon Prime into the Whole Foods Market point-of-sale system.
When the system integration is complete, Prime members will receive special savings and in-store benefits. The two companies will also come up with additional ideas to lower prices for Whole Foods Market customers. Whole Foods stores will also now have Amazon Lockers, where customers can pick up or send returns back to Amazon during their grocery store trips.
“We’re determined to make healthy and organic food affordable for everyone. Everybody should be able to eat Whole Foods Market quality – we will lower prices without compromising Whole Foods Market’s long-held commitment to the highest standards,” said Jeff Wilke, CEO of AmazonWorldwide Consumer. “To get started, we’re going to lower prices beginning Monday on a selection of best-selling grocery staples, including Whole Trade organic bananas, responsibly-farmed salmon, organic large brown eggs, animal-welfare-rated 85 percent lean ground beef, and more.”
Amazon will purchase Whole Foods Market for $13.7 billion.
Whole Foods reported its third-quarter earnings late last month, with total sales increasing about 0.6 percent to a record $3.7 billion. However, comparable store sales decreased nearly 2 percent. During the earnings report, Whole Foods addressed the merger, in which Amazon.comwill acquire the grocery chain for $42 per share in an all-cash transaction.
“This is just the beginning – we will make Amazon Prime the customer rewards program at Whole Foods Market and continuously lower prices as we invent together,” Wilke said. “There is significant work and opportunity ahead, and we’re thrilled to get started.”