Amazon.com Inc. is planning to cut prices on hundreds of items at Whole Foods stores this week, as the e-commerce giant seeks to change the chain’s high-cost image amid intense competition among grocers.
Prices on more than 500 items, with more being added, are set to drop at Whole Foods stores across the U.S. on Wednesday, according to documents viewed by The Wall Street Journal. The products range from sliced salami to popcorn to cod fillets.
The cuts are some of the broadest since Amazon AMZN, +1.88% bought Whole Foods for nearly $14 billion in 2017, spanning many product categories across the supermarket. The e-commerce giant has tried to extend its own reputation for low prices and convenience to Whole Foods, to counter a sense among some consumers that shopping there required a “Whole Paycheck.”
Amazon also is seeking to keep up with other big food sellers. Walmart Inc. WMT, +0.30% , Kroger Co. KR, -0.49% and other grocers are holding down prices to defend their share of the $1 trillion U.S. market for groceries and consumer products. Amazon intends to open a new line of grocery stores independent from Whole Foods as early as later this year.
An expanded version of this report appears on WSJ.com.
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