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Here's why Amazon is buying Whole Foods
19 Junio 2017, 08:38 | Benedicto Grullon
What happens to Instacart in the Amazon-Whole Foods deal?
(NASDAQ:WFM) in a deal valued at around $13.7 billion. The $42 a share all-cash purchase includes the group's debt. In the first quarter this year, food-and-drink sales at American brick-and-mortar stores were down by nearly $3 billion even as grocery trips rose, according to market research firm Nielsen.
Armed with giant warehouses, shopper data, the latest technology and almost endless funds - and now with Whole Foods' hundreds of physical stores - Amazon is set to reshape a US$800 billion grocery market that is already changing rapidly. Instacart allows some retail partners to take small investments in the company, and Whole Foods owns less than 1%, the source said. (NASDAQ:WFM), shopping center REITs tumbled more than their peers in the real estate sector.
Amazon will use technology (automation and data) to save Whole Foods, while Whole Foods will improve Amazon distribution - not just for groceries but other stuff as well. (NASDAQ:AMZN) "a launching pad not just for food but possibly drugs as well where customers aren't willing to wait even a day". As more and more grocery stores have begun offering organic produce, Whole Foods is no longer people's only option.
Since its founding 23 years ago, Amazon.com has upended the business of selling books, music and just about everything else we consume - except food.
So what if you could get Whole Foods products or other groceries delivered to your door? But today's development will bring it more than 430 retail locations across the country, a substantial base from which it can expand its empire into the physical realm.
"My guess is that the play here is going to be the home delivery that's going to be accelerated by Amazon, not only groceries but prepared meals as well", Mahaney said. And Amazon has said it would like to bag 2% of the United Kingdom grocery sales.
The companies expect the deal to close by the end of 2017, subject to approval by Whole Foods Market's shareholders and regulators.
Following the announcement, shares of Whole Foods spiked over 27 percent, while shares of the e-commerce giant rallied 3 percent.
"Amazon can now answer the question, What are we having for dinner", he says.
Shares of dozens of supermarkets, food producers, payment processors and shopping malls collectively lost at least $35 billion in US market value on Friday as the news reverberated across financial markets.
Shares of Amazon were trading up 2.44% in after-hours trading. And the key measure that retailers look at to gauge their health, revenue at stores open more than a year, has fallen for seven quarters in a row.
Whole Foods has had a reputation of high prices and has been derided sometimes as "Whole Paycheck".
Drew Herdener, an Amazon spokesman, said in a statement the company has "no plans to use no-checkout technology to automate the jobs of cashiers at Whole Foods and no job reductions are planned".
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