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October 29, 2017 02:00 am

Did Amazon Really Lower Whole Foods' Prices?

While Whole Foods "strategically marked down select items like avocados and almond milk, overall prices have dropped very slightly -- about 1 percent -- since Amazon ownership, according to an analysis by research firm Gordon Haskett." An anonymous reader quotes Bustle:This hardly seems like big savings, and Gordon Haskett noted that since the initial price cuts in August, the cost of some items have been slowly ticking back up. "The price of frozen foods, for example, was 7 percent higher on Sept. 26 than on Aug. 28, when Amazon officially took over," Abha Bhattarai reported for the Post, which is owned by Amazon. "Snack items had risen 5.3 percent in that period, while dairy and yogurt were up 2 percent. (Among categories where prices are lower: Beverages, down about 2.8 percent; bread and bakery, down 6.8 percent; and produce, down 0.5 percent...)" For shoppers like me who buy mostly fresh fruits and vegetables, it did feel like I was saving money. However, one industry insider said there is a strategy behind how prices are cut. "The whole game is that you want the 100 most recognizable things -- milk, apples, bananas -- to be cheaper," Jan Rogers Kniffen, an industry consultant and former department store executive, told the Post. "If you can do that, you can build a perception that the whole store is competitively priced." From July through September, Whole Foods brought in $1.3 billion in sales for Amazon.

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