Amazon shook up the grocery industry when it bought Whole Foods and slashed prices in the very first week starting Aug. 28. New data shows that customers were attracted by the cheaper offerings, and flocked to Whole Foods locations across the country. In just the first week that the stores cut prices, traffic jumped by 17% on a year-over-year basis, according to Thasos Group.
The stats may make other grocery stores break out in a cold sweat. Wal-Mart, which controls the largest share of grocery store traffic in the U.S., accounted for 24% of the new Whole Foods customers, more than any other grocery chain.
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