Whole Foods price cut? Amazon asks suppliers to lower prices

Whole Foods price cut? Amazon asks suppliers to lower prices

Whole Foods Market is trying to reduce prices, which may assist it shake its longtime nickname “Whole Paycheck.”

Driving the information: The Amazon-owned grocery retailer chain is asking its suppliers to assist reduce prices on packaged groceries as shoppers proceed to deal with inflation, The Wall Street Journal reports.

  • Whole Foods made the request to suppliers throughout a digital summit in December, in accordance to The Journal.
  • The firm advised The Journal that its price of price will increase has been lower than the trade normal and the corporate is dedicated to guaranteeing prices replicate easing inflation.
  • A Whole Foods spokesperson confirmed the suppliers’ pricing request to Axios Tuesday.

The massive image: The meteoric rise in food prices slowed barely in December, per a brand new Axios evaluation — however prices have been nonetheless up greater than 10% year-over-year.

  • While grocery gadgets have broadly gotten costlier, no meals merchandise has been impacted by inflation as much as eggs and their prices usually give a clue concerning the present financial atmosphere.

Flashback: Amazon acquired Whole Foods Market in August 2017 for $13.7 billion and the businesses mentioned in a joint statement on the time that there was a “imaginative and prescient of creating Whole Foods Market’s high-quality, pure and natural meals reasonably priced for everybody.”

  • Whole Foods prices have been lowered in the beginning of the acquisition and in 2018 an Amazon Prime member low cost was launched.
  • Amazon and Whole Foods introduced one other spherical of price cuts in April 2019.

Context: Amazon Prime members save an additional 10% off on in-store sale prices excluding alcohol at Whole Foods.

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