What Amazon Needs Most From Whole Foods
It's been two weeks since Amazon.com (NASDAQ: AMZN) took over Whole Foods, and there are already several signs of progress.
As widely expected, Amazon has lowered prices, targeting staples such as milk, bananas, and avocados. However, some customers didn't even notice the price cuts or said they weren't lower enough to make a difference, as they seemed to be focused on specific items rather than being implemented across the board.
Still, the news attracted an increase in customers, as JPMorgan Chase analysts said traffic trends at stores they studied were the best in three years. Foursquare found that traffic jumped 25% in the first two days, though much of that boost is likely to be related to the hype around the takeover. Amazon said it will continue to lower prices at Whole Foods, but improving performance at the organic grocery chain is only a small part of Amazon's ambitions in the supermarket industry.
Source: Fool.com
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