Amazon.com Inc said on Friday it would buy Whole Foods Market Inc for $13.7 billion, in an embrace of brick-and-mortar stores that could turn the high-end grocer into a mass-market merchant and upend the already struggling US retail industry. Amazon used aggressive pricing to become an e-commerce retail juggernaut and has recently been experimenting with brick-and-mortar outlets. It will take over a natural and organic grocer pioneer with 456 stores, a mecca for young, high-end shoppers, that has been struggling to rein in prices and integrate technology. The deal represents ...
Amazon moves into brick-and-mortar stores with $13.7 bn Whole Foods deal
It could turn high-end grocer into mass-market merchant, thus pushing the struggling retail industry
Reuters Last Updated at June 17, 2017 11:39 IST