Venerdì, 24 Novembre, 2017

Shockwaves in European Union as Amazon gobbles up Whole Foods

Sveva Terracina | 20 Giugno, 2017, 19:48

Analyst states that if Jeff Bezos made a decision to get Whole food then nothing can stop him from achieving it.

"Very few entities could outbid" Amazon, Short said.

Haeggquist & Eck, LLP a shareholder rights litigation firm, is investigating the proposed sale of Whole Foods Market, Inc.

Amazon has been on the edge of the grocery business for a while.

He wrote in a report that "another bid cannot be ruled out" because other big retailers may want to do anything they can to prevent Amazon from getting even more powerful. Whenever you start to run low on something, just point the wand's infrared beam at the barcode on the product and press the button, and Amazon Alexa will automatically add it to your shopping card. With Amazon behind the wheels, the costs of its products could go down significantly, which would make them more appealing to customers.

IBD'S TAKE: Amazon.com has bounced off its 50-day moving average following the news that it's buying Whole Foods, but is a bit extended for a secondary buy.

Experts note that most Whole Foods shoppers are already familiar with Amazon and are lining up for what could be a smooth transition.


"Mutual friends set us up on a blind date", he said in the transcript, which was released by Whole Foods on Monday. Amazon buying Austin-based grocery chain Whole Foods for $13.7 billion certainly falls into the latter category. Food delivery is one thing but Amazon will also control the in-person grocery shopping experience so expect to see more features like ordering your groceries on your phone and picking them up in store.

Whole Foods' decision to mingle with Amazon was not surprising altogether given its ongoing struggles.

Again, it's too soon to say what exactly we can expect, but considering Amazon has been trying to get into the grocery game for a while now, it's likely that some big changes are in the works. They've tried AmazonFresh, Amazon Prime Pantry, and a bunch of other initiatives to get customers to order groceries online, but it's been slow going. Amazon accounts for less than one percent of the grocery spending market.

Whole Foods' board, of course, has a fiduciary duty to its stockholders to consider any viable takeover offer. About 20% of the grocery business is anticipated to be online in the next couple of years, as per the source.

When Consumerist asked Instacart how the news of Amazon's acquisition of Whole Foods could affect the company's current relationship with the grocer, a spokesperson told Consumerist that Instacart has been "committed to helping grocers compete online" from the beginning.

"I think Whole Foods by nature has a more affluent customer and they're more willing to pay for things like delivery", said Ed Yruma, managing director at KeyBanc Capital Markets.

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