Whole Foods is slashing prices today in a bid to dissolve its pricey image

By AmazonFOXBusiness

Whole Foods cutting prices; why houses put on the market in early April sell faster

Morning Business Outlook: Amazon is reportedly planning to cut prices on hundreds of items at Whole Foods in an effort to change its high-cost image; Homes listed in the first week of April receive 14 percent more views and sell six days faster compared to the rest of the year according to Realtor.com.

Amazon is trying to dissolve Whole Foods' 'whole paycheck' persona by dropping prices on hundreds of items.

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The discounts, which start Wednesday, will cut prices on more than 500 items ranging from sliced ham to "peak-of-season" produce at Whole Foods locations nationwide.

And, while the actual discounts will vary depending on the items, Amazon said customers can expect to save an average of 20 percent on "select items" throughout the store.

For example, the price of organic strawberries will drop by $2 to $2.99 per pound and the price of spiral-sliced ham will drop to $3.99 per pound, a savings of at least 33 percent.

While the discounts will be available for all shoppers, Amazon said its Prime members can expect to save an additional 10 percent off of sales items.

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“When Whole Foods Market joined the Amazon family, we set out to make healthy and organic food more accessible. Over the last year, we’ve been working together tirelessly to pass on savings to customers,”  Jeff Wilke, CEO of Amazon Worldwide Consumer, said in a statement on Monday.

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The cuts also come as other big food grocers such as Kroger and Walmart have been trying to keep their prices low after many big food makers like Hershey, Nestle and Unilever were forced to hike prices this year to offset higher freight and ingredient costs.

Earlier this month, The Wall Street Journal reported that Amazon is planning to launch a lower-price grocery chain of its own in several major U.S. cities over the next few years. The unnamed chain is expected to be distinct from Whole Foods. The first store of the new chain is reportedly set to open in Los Angeles as early as the end of the year. There also are plans to open two other locations in early 2020.

According to the Journal, Amazon has not brought as many Prime members into Whole Foods as it had hoped to since acquiring it in 2017 for $14 billion.