Amazon.com Inc. might be dropping the idea of making Whole Foods Market’s products less expensive not long after many analysts feared Amazon’s ability to lower prices could dramatically change the supermarket industry.
Amazon (NASDAQ: AMZN) is launching a new grocery store chain based largely on providing wider variety and lower prices than its Whole Foods Market does. The Wall Street Journal previously reported Whole Foods is raising prices on about 550 items as a result of pressures from consumer product companies.
Now, investment website the Motley Fool says the combination of those factors might mean Amazon has thrown in the towel on significantly cutting Whole Foods prices.
“Amazon could be taking a two-path approach that lets Whole Foods continue to be the upscale grocery store people think it is, while giving them a new opportunity to shop at a traditional supermarket under the Amazon banner,” Rich Duprey wrote in a Motley Fool article. “The fact that Amazon is allowing…Read the full story from the Washington Business Journal.