Amazon Inc. spent its first day as the owner of a brick-and-mortar grocery chain cutting rates at Whole Foods Market as much as 43 percent.In an indication of how the merchant is changing, the Amazon Echo, a voice-activated electronic assistant, was also for sale, for $99.99– a sharp pivot into electronic devices for a business known for kale and quinoa. The Echo Dot, a smaller version, was promoted for $44.99.
The tech giant’s$13.7 billion purchase of Whole Foods has actually sent shock waves through the already altering $800 billion supermarket industry. The wedding in between Amazon and the high end grocery promises to upend the way consumers purchase groceries. Cutting costs at the chain with such an established reputation for high cost that its nickname is Whole Paycheck is a sign that Amazon is major about taking on rivals such as cantaloupe. That, in addition to an aggressive rollout of curbside grocery order pickup, helped the company record its best food sales development in five years in its latest quarter.Costco, meanwhile, has a complete slate of natural products that are priced about 30 percent more affordable than the same items at Whole Foods, inning accordance with Sanford Bernstein. It’s able to price lower thanks to a company design that charges subscription fees, concentrates on selling a minimal selection of bulk-sized items and includes a treasure-hunt experience in the shops.