Amazon’s Whole Foods Price Cuts Brought 25% Jump in Shoppers
Amazon’s splashy takeover of Whole Foods, complete with deep price cuts, did more than bring a surge of publicity to the chain: It boosted customer traffic by 25%.
That’s the finding of Foursquare Labs, which compiled location information during the first two days after Amazon completed its acquisition of the grocer. The data, culled from shoppers’ mobile devices, was compared with the same period a week earlier.
Amazon acquired the upscale chain last month for $13.7 billion, a move that has brought turmoil to the supermarket industry and sent shares of grocery rivals tumbling. The same day it completed the acquisition, the e-commerce giant cut prices by as much as 43% on a range of items. Organic fuji apples were marked down to $1.99 a pound from $3.49 a pound, for instance. Organic avocados dropped to $1.99 each from $2.79.
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