Economy

Amazon's Price Cuts Created a 25% Bump in Whole Foods Foot Traffic

Amazon's Price Cuts Created a 25% Bump in Whole Foods Foot Traffic”

The first step Amazon (AMZN) took after completing its $13.5 billion acquisition of Whole Foods (WFM) last week was to slash grocery prices, and it has promised more price cuts in the future.

Whole Foods is getting a little busier, but it's unclear if it'll stay that way in the long term.Damian DovarganesIt seems like Amazon's efforts to get more shoppers through the door at Whole Foods was a success.

Business Insider reports that after the lower prices-as much as 43 percent lower for some products-went into effect, Whole Foods saw a 25 percent increase in customers.

Amazon has dropped prices at Whole Foods Kate Taylor
Amazon has dropped prices at Whole Foods Kate Taylor

The statistics, first reported by Bloomberg, were gathered by Foursquare Labs Inc. and assessed location data for the first two days after Amazon's purchase was finalized, and then compared to data from a week earlier. According to the Wall Street Journal, many Whole Foods employees mentioned that they have observed higher sales since the acquisition.

The data also illustrates that Amazon's move into the brick and mortar space has started off quite well. The company listed 2,000 of Whole Food's private-label products on the site, and nearly all of them sold out.



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