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Whole Foods will drop prices on Monday

Whole Foods will drop prices on Monday

On Monday morning, I stopped by the Fairview Road location, where customers were greeted with a huge green Whole Foods-Amazon banner that boasts: "We're growing something good".

Yet, perhaps the biggest sign that Amazon has moved in: Whole Foods is now selling gadgets.

Business Insider stopped by a Whole Foods store in Brooklyn last week, assembling a virtual basket of the items that Whole Foods and Amazon mentioned in their announcement of the price cuts.

For a start, Amazon Prime, its subscription membership service that offers free shipping, will be rolled into Whole Foods Market's customer rewards program to give Prime members special savings and other in-store benefits. Whole Foods was working on price cuts before Amazon arrived with its checkbook.

"These trips include long wait times, and inconvenient locations or hours of operation", Tushar Patel, CMO, Kibo.

"No sir, you don't need a Prime account for the avocado discount", said a smiling store employee.

The professor ABC7 News spoke with says he believes Amazon will keep certain items at low prices to keep shoppers happy. Rather, it is an outsize way for Jeff Bezos, Amazon's chief executive, to announce his plan to shake up the grocery industry and take on competitors like Walmart and Kroger.

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Whole Foods has for years been mocked as "Whole Paycheck" for its high prices, but Wall Street has already pickup up on the changes that are afoot.

Bloomberg reports that in addition to lowering prices on groceries at the chain, Amazon also offered its voice-activated personal assistant, the Amazon Echo, at the retail stores for $99.99, a lower-than-normal price for the device.

"The two companies will together pursue the vision of making Whole Foods Market's high-quality, natural, and organic food affordable for everyone", they said at the time. While Whole Foods is in all the major markets, it has a small market share.

An Amazon/Whole Foods spokesman told Fox News, "Echo's are being sold in select stores, but stay tuned for additional details in the next few weeks".

Whole Foods, meanwhile, gets to exhale.

However, "Amazon and Whole Foods must work on messaging and ensure people who don't usually shop at Whole Foods know of price decreases".

The preceding was a press release from the Whole Foods Market Newsroom.

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