This should ostensibly do a lot to overcome Whole Foods' reputation as a somewhat exclusive chain with high-cost, organic goods. The news was originally reported earlier this month by CNBC's Lauren Hirsch, who cited anonymous sources claiming the discounts were imminent. The price-slashes should present a boon for Whole Foods, given Amazon's Prime membership base now encompasses 100 million people, the company announced in April. Additionally, it will give the Austin-based chain a stronger foothold in the battle for Walmart's customers, who are more inclined to bargain-hunt than pay a premium for organic Musaka.
The announcement also comes after Jeff Bezos' conglomerate jacked up prices on annual Prime memberships by 20%, raising the cost from from $99 to $119, effective May 11. In an earnings call last month, Brian Olsavsky, Amazon's chief financial officer, hinted that more Prime benefits were afoot, despite the membership fee hikes.