Forefront Communications

MSN Money: Whole Foods Prices Hit Trader Joe’s Hard

Mark Dowd

Mark Dowd

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.

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