Economy

Whole Foods Physical Stores Are Vital to Amazon's Grocery Success

Whole Foods Physical Stores Are Vital to Amazon's Grocery Success”

E-retailer Amazon has announced it plans to acquire Whole Foods Market in a $13.7 billion deal, solidifying its position in the supermarkets and grocery store industry.

"And she said, 'That's insane, '" John Mackey said at a town hall meeting on Friday, after Amazon announced it was buying Whole Foods for $13.7 billion.

But Mackey also said that "Over time, there could be other formats that evolve that - that might - wouldn't be branded Whole Foods Market, potentially, wouldn't be our standards".

He says other grocers like Kroger, Costco and Walmart are in the process of figuring out what's next and how they'll respond to remain competitive. "And when we huddled together, it was like we just had-we just had these big grins on our faces, like, 'These guys are awesome, '" Mackey said.

Amazon, which made a splash a year ago with a checkout-free grocery store, has said it has no plans to automate the jobs of Whole Foods cashiers.

During the decades since Mackey founded Whole Foods, it has emerged as a cultural icon and a force in its industry. Whole Foods, a leader in redefining the modern grocery experience, offers a "produce butcher" at a recently opened store in New York City.

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At Whole Foods, technology would enable people to pay using their smartphone, instead of seeing a cashier, or even using a kiosk, a source told Bloomberg. More seriously, he said it was too early to discuss these kinds of details, but highlighted that one of Amazon's core values take Whole Foods is likely to embrace is frugality.

Wilke also noted that Mackey would continue to CEO of Whole Foods, which prompted Mackey to interject by continuing the romantic allusion. That's a significant boost in numbers for the Seattle company, which now operates fewer than 100 distribution centers in the U.S.

Mainers shared mixed feelings about the potential deal involving internet giant Amazon purchasing grocery chain Whole Foods.

Whole Foods, battered in recent years as conventional retailers muscled into its turf with lower-priced organic products, has actually already begun to change. Having used ecommerce and digital technology to thoroughly disrupt retailers, which have already closed approximately 3,000 stores this year, Amazon is now in a prime (no pun intended) position to swoop in and use bricks and mortar to advance its goal of dominating retail.

"If anything", she said, "the acquisition will make shopping at Whole Foods more convenient".

The deal is being called a "game changer", as Amazon takes over Whole Foods, for almost $14 billion dollars. That's believed to be the reason Amazon has had a limited breakthrough in the grocery business. He noted that Amazon was known for its innovation.

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