Amazon Buys Whole Foods

Jun 19, 2017

Amazon will buy Whole Foods Market for $13.7 billion. Amazon has been experimenting with “how people pick, pay for and get groceries delivered.” Owning hundreds of stores will allow Amazon to have a physical footprint. In addition to experimenting with groceries, it will give Amazon a way to deliver other products faster and more cheaply. Shipping costs are one of Amazon’s biggest costs. Grocery industry stocks fell significantly. Kroger was the biggest loser, falling as much as 17 percent on Friday. Investors think that the grocery industry will change significantly over the next several years.