What We’re Reading: “Whole Foods is saving Amazon — not the other way around”

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Aug 1, 2017
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The dust has barely settled from the recent announcement that Amazon will buy Whole Foods Market for $13.4 billion later on this year, but the reigning sentiments seem clear: Amazon saved the declining grocery store and, in doing, boosted its own value proposition.

“In short, Whole Foods was in a free fall, and Amazon is the perfect net to catch it,” Derek Thompson wrote for The Atlantic. And while Thompson and others nod to what Amazon is gaining—distribution centers and Whole Foods’ high-income, tech-savvy customers, to name a couple—there’s a lot more at stake than what meets the eye.

Amazon’s bread and butter is e-commerce and, while they own 43% of that market, that’s a just a sliver of the retail industry. Over 90% of purchases happen in physical stores. With its purchase of Whole Foods, Amazon is not only investing in brick-and-mortar but also securing a spot in the $750 billion grocery market—and the perks that come with it.

Read the full article from Business Insider by clicking here.

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