Amazon cuts Whole Foods prices and sweetens deal for Prime members - again

An employee rearranges boxes of frozen food during the grand opening of a Whole Foods Market Inc. location in Burbank California U.S. on Wednesday

An employee rearranges boxes of frozen food during the grand opening of a Whole Foods Market Inc. location in Burbank California U.S. on Wednesday

The price cuts-which are set to drop at Whole Foods stores on Wednesday-are some of the broadest since Amazon bought the Austin-based grocer for almost $14 billion in 2017, according to The Wall Street Journal.

"Over time Whole Foods' prices have slowly crept back up", Edward Jones analyst Brian Yarbrough told The Post. "Most of their prices are 30 percent to 40 percent more than their competitors anyway, so a 20 percent cut" won't be enough to lure budget-conscious shoppers, Yarbrough added.

For example, the price of organic strawberries will drop by $2 to $2.99 per pound and the price of spiral-sliced ham will drop to $3.99 per pound, a savings of at least 33 percent. This round includes an emphasis on reducing costs for meat and produce as well as a 20 percent discount on prepared sandwiches and wraps. Amazon said customers can expect more than 300 Prime member deals on popular seasonal items in the next few months.

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"Whole Foods Market continues to maintain the high quality standards that we've championed for almost 40 years and, with Amazon, we will lower more prices in the future, building on the positive momentum from previous price investments", said John Mackey, Whole Foods Market co-founder and CEO. Prime members can also receive an additional 10% off hundreds of sale items throughout the store.

The first round of price cuts occurred just days after the mega merger closed on August 24, 2017, when Amazon lowered prices on a select group of items, including avocados, bananas, farmed salmon, brown eggs and other staples. And, to entice shoppers to become Prime members, customers can get a special $10 off a $20 purchase coupon with an offer found at Amazon.com/WholeFoods10 starting Wednesday.

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