Economy

Whole Foods Market Announces Unauthorized Payment Card Information Access

Whole Foods Market Announces Unauthorized Payment Card Information Access”

The data comes from the Thasos Group, which analyzes information from location data on millions of mobile phones.

Whole Foods recently made headlines for cutting prices on a variety of popular grocery items. However, the price cuts may not be producing the desired results. But if you've got other items in your shopping cart, you might want to do a price comparison-for instance, since the takeover, frozen foods became 7 percent more expensive and the cost of snack items went up by 5.3 percent. The team found that 17 of those items saw an average price drop of 18 percent during that time, while prices increased for 16 items and 77 items stayed the same price.

"Amazon's acquisition of Whole Foods has the potential to be a gamechanger in the grocery space", Skibiski said.

However, it may be hard for Whole Foods to attract more budget-conscious shoppers. Back to Trader Joe's? Trader Joe's still had a 6 percent defection rate three weeks after the acquisition.

Among Whole Foods' competitors, Trader Joe's saw the highest rate of customer defections: on average, almost 10 percent more daily customers of Trader Joe's defected to Whole Foods in the week of the price cuts relative to the week prior.

Only ten percent of those visiting Whole Foods in the first week said they usually shop at Trader Joe's, while eight percent said they shop at Sprouts, an organic-food chain primarily located in the Southwest and West. Roughly three percent of the shoppers said they normally visit Target, while two percent were Kroger or Costco shoppers. While most Whole Foods Market stores do not have these taprooms and restaurants, Whole Foods Market encourages its customers to closely monitor their payment card statements and report any unauthorized charges to the issuing bank.

In late August, the same day Amazon rolled out its first round of changes at Whole Foods stores, including lower prices and displays of Alexa-powered devices in stores, hundreds of 365 items showed up on the AmazonFresh website.

Another survey reports that customers have seen little benefit from the lower prices. A research firm has been tracking numbers and found that prices have been creeping back up since day one of the deal, and some are even higher than they were pre-Bezos.



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