The move to acquire Whole Foods is the latest step into the grocery retail sector by Amazon.
E-commerce giant Amazon has announced a $13.7bn (€12.3bn) deal to buy Whole Foods, the American supermarket chain.
Founded in Texas in 1978, Whole Foods operates 460 stores across the US, Canada and UK.
ADVERTISEMENT
With sales in the region of $16bn last year, Whole Foods is the 30th largest chain in the US, offering consumers “natural and organic” produce sourced from local areas.
The upmarket retail chain has been hugely popular, with wealthier consumers willing to spend more on food. But after years of phenomenal market share and sales growth, Whole Foods business model has been under pressure in recent years due to more intense competition.
Jeff Bezos, founder and chief executive of Amazon, said that “millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy”.
Latest step into grocery
The Whole Foods acquisition marks the latest move by Amazon into the grocery retail space.
The company launched a new grab-and-go grocery store format called Amazon Go last December, which operates with no tills or checkout lines.
Instead, customers simply scan their smartphone when entering the store, collect whatever items they need and simply leave the store with a final bill deducted from their credit card.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
The move to acquire Whole Foods is the latest step into the grocery retail sector by Amazon.
E-commerce giant Amazon has announced a $13.7bn (€12.3bn) deal to buy Whole Foods, the American supermarket chain.
Founded in Texas in 1978, Whole Foods operates 460 stores across the US, Canada and UK.
With sales in the region of $16bn last year, Whole Foods is the 30th largest chain in the US, offering consumers “natural and organic” produce sourced from local areas.
The upmarket retail chain has been hugely popular, with wealthier consumers willing to spend more on food. But after years of phenomenal market share and sales growth, Whole Foods business model has been under pressure in recent years due to more intense competition.
Jeff Bezos, founder and chief executive of Amazon, said that “millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy”.
Latest step into grocery
The Whole Foods acquisition marks the latest move by Amazon into the grocery retail space.
The company launched a new grab-and-go grocery store format called Amazon Go last December, which operates with no tills or checkout lines.
Instead, customers simply scan their smartphone when entering the store, collect whatever items they need and simply leave the store with a final bill deducted from their credit card.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS