Economy

Whole Foods Market Just Announced Huge Price Cuts + New Prime Deals

Whole Foods Market Just Announced Huge Price Cuts + New Prime Deals

Whole Foods said it would reduce the price of large yellow mangoes to $1 each, while mixed-medley cherry tomatoes will now cost $3.49 for a 12 oz. container.

Burt Flickinger III, managing director at Strategic Resource Group, a consulting company that specializes in retail and consumer products, and is based in NY, says his research into Whole Foods showed that the food retailer's prices had turned off so many shoppers that it was unable to sell produce at the same rate as competitors.

In addition to lower prices for all shoppers, Prime members will now "save more than ever before" at Whole Foods locations due to more member deals and discounts. Soon after acquiring the grocer, Amazon introduced a preliminary round of price cuts, part of a bid to change the perception of the high-end grocer nicknamed "Whole Paycheck".

The grocer, which is owned by Amazon, has announced a third round of price cuts on hundreds of items, with an average savings of 20%. It is offering a deal through the end of April that gives new Prime members $10 off a $20 Whole Foods in-store purchase.

Amazon acquired Whole Foods in 2017 for $13.7 billion.

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Examples of exclusive Prime member deals in April that will rotate on a weekly basis include organic asparagus, organic strawberries, and spiral sliced ham.

However, in February, the Wall Street Journal reported that Whole Foods raised prices on hundreds of items. In the following months, Whole Foods plans to release over 300 Prime member deals on some of their most popular seasonal items.

"Every time a customer walks into a Whole Foods Market, they expect and trust industry-leading quality standards across aisles", said Jeff Wilke, CEO of Amazon Worldwide Consumer, in a statement.

And Whole Foods executives said more price reductions are on the horizon. New members can try Prime free for 30 days.