Amazon’s acquisition of Whole Foods is rocking the grocery industry. According to a report by alternative data intelligence firm Thasos Group, which analyzed mobile phone location data, Whole Foods’ foot traffic climbed 17% year-over-year the week of price cuts. These new customers seem to be coming from other grocery chains. Almost 10% of regular Trader Joe’s customers defected to Whole Foods each day the first week after the Amazon acquisition, when the price cuts went into effect.
Watch the video report here.