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Amazon to cut prices on Whole Foods staples like eggs, beef

Posted: 8:08 AM, Aug 25, 2017
Updated: 2017-08-25 08:08:26-04
Amazon to cut prices on Whole Foods eggs, beef
Amazon to cut prices on Whole Foods eggs, beef

Amazon plans to use its deep pockets to make big changes at Whole Foods, saying it will cut prices on bananas, eggs, salmon, beef and more when it completes its $13.7 billion takeover next week.

Helping Whole Foods win back customers who found "good enough" organic and natural products elsewhere -- possibly at a lower cost -- fits Amazon's track record of keeping prices low to lock in customer loyalty. Looking ahead, Amazon hopes to give members of its Prime program special savings and other in-store benefits.

Analyst Neil Saunders of GlobalData Retail called it an "opening salvo" in the grocery wars and shares of other supermarkets fell sharply on the news.