Amazon will slash prices on hundreds of items at Whole Foods Market stores across the U.S. starting on Wednesday and introduce even more benefits for Prime members. Prices will be reduced by an average of 20 percent.
This is the third round of price cuts since Amazon purchased Whole Foods in 2017 for $13.7 billion, the company said. Soon after acquiring the grocer, Amazon introduced a preliminary round of price cuts, part of a bid to change the perception of the high-end grocer nicknamed “Whole Paycheck.”
WSJ reported that these cuts will include more than 500 items and could last through the end of the year. This round includes an emphasis on reducing costs for meat and produce as well as a 20 percent discount on prepared sandwiches and wraps.
In addition to the price cuts, Amazon said it will double the number of weekly Prime Member deals and offer deeper discounts. Amazon said customers can expect more than 300 Prime member deals on popular seasonal items in the next few months.
The WSJ reports that Amazon has kept the price cuts close to the vest, with employees referring to the plans with codenames, the same way tech workers might talk about a top-secret new service or device. Some employees are reportedly set to work overnight Tuesday into Wednesday to set the new prices and hang promotional signs.
Amazon continues to use its Whole Foods acquisition as a way to grow its Prime membership. It is offering a deal through the end of April that gives new Prime members $10 off a $20 Whole Foods in-store purchase.
The WSJ previously reported last month that Amazon is preparing to launch dozens of grocery stores across multiple large U.S. cities, separate from its Whole Foods chain.