Prices at Whole Foods Are Rising Despite Amazon Acquisition, According to New Report
After Amazon's acquisition of Whole Foods in August, the company said it would start lowering the grocery chain’s prices. And they followed through. Almost immediately, Amazon decreased prices on some of Whole Foods' most popular items, including avocados, salmon, baby kale, and rotisserie chicken.
But just when we were getting ready to retire the nickname "Whole Paycheck," a recent analysis conducted by research firm Gordon Haskett suggests Whole Foods’ prices may be creeping back up, according to Business Insider. The firm price-checked 110 items at a Whole Foods in Princeton, New Jersey, and found the prices have increased, on average, by 1.6 percent since the end of September.
“The biggest driver of the basket going higher was fewer sale items,” Charles Grom, a Goron Haskett Research Advisors analyst, wrote in a client note, according to Bloomberg.
The majority (87) of the items did not experience a change in price, while 10 items experienced a price cut and 13 increased in price. The amount that prices changed varied greatly by category, with produce and dairy items seeing a decrease and dry, packaged goods experiencing an increase. Fortunately, the price of the items in total was still 1.1 percent lower than before Whole Foods was acquired by Amazon.
This isn't the only report to suggest that Amazon's initial price slashing was a very temporary move. According to a November price-check by Consumer World, only 2.5 percent of items at three Boston-area Whole Foods stores have been reduced in price since August.
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But don't be too discouraged by the news. We came up with five genius ways to save money at Whole Foods.