Amazon sells $1.6M in Whole Foods' products in first month

By Sara Shayanian  |  Sept. 29, 2017 at 12:09 PM
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Sept. 29 (UPI) -- In just its first month since taking over Whole Foods, Amazon sold $1.6 million worth of products at the grocery chain, officials said Friday.

The e-commerce giant purchased Whole Foods earlier this year and immediately slashed prices.

Amazon's said it made $500,000 in sales in the first week of offering Whole Foods' "365 Everyday Value."

Experts say the mass-market platform that Amazon provides has given Whole Foods the potential to gain new revenue and avoid falling revenues -- and to change negative views of the grocer, which some had jokingly referred to as "Whole Paycheck".

"Amazon has a different narrative," Whole Foods CEO John Mackey said. "Now we've embraced its narrative and so 'Whole Paycheck' disappeared. We escaped the trap."

Amazon's first month in charge saw 19 percent of sales in candy and snacks, followed by frozen fruit and vegetables. The most popular items were coconut water and deli turkey breast.

Amazon purchased Whole Foods for $13.7 billion in June and took over the grocery chain in August, promising to cut prices on every items. Since the takeover, Whole Food stores nationally saw a 10 percent increase in traffic last month compared with other months of this year.

Executives at Whole Foods and Amazon said they plan to continue cutting prices and offering discounts over time.

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