Amazon.com made clear from the outset of its acquisition of Whole Foods that it planned to lower the chain’s prices. Whole Foods has used the publicity around its lower prices to attract customers from a wide variety of rivals. But are Whole Foods’ lower prices legit? Is it really time to retire its “Whole Paycheck” label or does it still apply?
The perception of lower prices has helped attract more shoppers to Whole Foods. For example, 10 percent of Trader Joe’s regular customers visited Whole Foods between Aug. 28 and Sept. 16, according to Thasos Group. Eight percent of Sprouts customers did the same as did three percent of Target shoppers and two percent of Costco and Safeway customers.
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