Amazon’s internet-breaking purchase of Whole Foods took effect on Aug. 28, and since then, the grocery store giant has been slashing its prices.
With incremental markdowns on items ranging from bananas to chicken to kale, data assessing the store’s first month of lower prices paints a potentially bleak picture for similar food outlets like Trader Joe’s and Sprouts Farmers Market.
Data analysis group Thasos reported Monday that Whole Foods saw a 17 percent year-over-year increase in customers during the week the price cuts began.
Many Trader Joe’s regulars were likely among those new customers. Thasos said that 10 percent of people who typically frequent TJ’s at least twice a week shopped at Whole Foods instead between Aug. 28 and Sept. 3.
Trader Joe’s reportedly generated the most Whole Foods customers from a competing chain, with Sprouts producing the second most, with 8 percent of its regulars heading to Whole Foods.
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