Two years have passed since Amazon announced it was acquiring Whole Foods for $13.7 billion. The news that Amazon was planning on competing in grocery in earnest worried some given its history of disruption in retail, but thus far it’s been unable to dominate the industry.
Here’s what it means: In-store, Whole Foods’ performance hasn’t taken off under Amazon, and online, Amazon’s presence roused competitors to action so they could match it.
- Whole Foods’ in-store revenue has largely stayed flat following its acquisition despite changes made by Amazon. Amazon’s physical retail segment, which is largely comprised of Whole Foods’ in-store sales, has posted quarterly revenue between $4.2 billion and $4.6 billion in Whole Foods’ six full quarters with Amazon. The e-tailer’s added perks for Prime members, introduced discounts,installed Amazon Lockers, and more, but they haven’t propelled in-store sales to new heights.
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