Yesterday, Amazon stunned everyone when it revealed that it had agreed to buy out Whole Foods Market for a monstrous sum of close to $14 billion. This is being viewed as a power move by the e-commerce giant, who is looking to compete against the leading retail chain giant, Wal-Mart.
Several have, however rebuked the over-priced ‘extravagant’ reputation of the organic supermarket chain as not being in line with Amazon’s vision. Whole Foods is known to attract high-income shoppers, who can afford to dole out cash on over-expensive foods and this was the center of all the jokes on Twitter. The other sections, not to demarcate them, are most likely pissed for not having access to the organic and natural products.
The same is, however, expected to change once the acquisition is completed, according to Bloomberg. It has been stated that chief executive Jeff Bezos plans on keeping the extravagant brand image of Whole Foods, for providing premium fresh groceries, intact while slashing down the prices. He plans to streamline the company’s operations, slash down the huge 87,000 headcount and also lower the prices of the complete inventory.
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