Amazon sealed the deal with Whole Foods on Monday and immediately began slashing prices at the organic grocer.
The ecommerce giant wasted no time cutting the cost of a range of items at Whole Foods’ brick-and-mortar stores after finalizing the acquisition earlier today.
The contentious merger between the two companies earned the stamp of approval from the U.S. regulatory agent on Friday shortly after Whole Food’s shareholders blessed the $13.7 billion deal.
Amazon acted quickly by reducing the price of in-store items up to 43 per cent, according to Bloomberg.
At a Whole Foods midtown Manhattan store, the price of organic fuji apples was nearly cut in half, down to $1.99 a pound from $3.49. Other items that were reduced include Atlantic salmon down $5 per pound, a whole rotisserie chicken cut $4 to $9.99, and organic avocados down 70 cents to $1.99.
A supplier of organic and fresh groceries, Whole Foods is known for its pricy produce and has been accused of inflating the prices of the same products featured at other grocery stores.
While they won’t be changing the price of all items, Amazon is delivering on its promise to make Whole Foods’ offerings less expensive and more accessible.
“We’re determined to make healthy and organic food affordable for everyone,” said Jeff Wilke, CEO of Amazon Worldwide Consumer, in a Friday press release. “We will lower prices without compromising Whole Foods Market’s long-held commitment to the highest standards.”
On Friday, Wilke said the change in prices and new discount for Amazon Prime members are “just the beginning.”
One new addition to Whole Foods store fronts is a display of Amazon’s Echo speakers, touting the smart device as “farm fresh” and the “pick of the season.”
Next to the organic peaches at Whole Foods: An ad for the Amazon Echo pic.twitter.com/bsIsH17Mh1
— Abha Bhattarai (@abhabhattarai) August 28, 2017
Amazon’s takeover wasn’t universally embraced, as critics suggested the Whole Foods merger would quash both customer choice and stifle market competition.