CNBC reports that a new study from Bank of America Merrill Lynch concludes that “Whole Foods still has the highest overall prices among U.S. food retailers, despite the widely publicized discounts the Amazon-owned grocer made in April … Whole Foods’ price cuts, which extend beyond Amazon prime members, were heavily focused on produce but were less competitive for items found in the center of the store, the analysts said.”
The study also says that Walmart has the lowest prices.
The report goes on: “Kroger narrowed its gap with Walmart with an average premium of 7%, the analysts said. Sprouts Farmers Market had an average premium of 8%, while Whole Foods prices were the highest at 34% above Walmart — a percentage point higher than the previous 3-4 years of studies.”
And, CNBC continues: “As retailers lose traffic to Amazon for goods that shoppers can simply buy online, U.S. grocers have ramped up efforts to compete on prices and technology. Despite this, e-commerce accounted for just 2.2% of U.S. retail sales of food and beverages in 2018, though online market share is expected to rise to around 2.7% in 2019, according to a separate report by Coresight Research, also released Tuesday.”
The study also says that Walmart has the lowest prices.
The report goes on: “Kroger narrowed its gap with Walmart with an average premium of 7%, the analysts said. Sprouts Farmers Market had an average premium of 8%, while Whole Foods prices were the highest at 34% above Walmart — a percentage point higher than the previous 3-4 years of studies.”
And, CNBC continues: “As retailers lose traffic to Amazon for goods that shoppers can simply buy online, U.S. grocers have ramped up efforts to compete on prices and technology. Despite this, e-commerce accounted for just 2.2% of U.S. retail sales of food and beverages in 2018, though online market share is expected to rise to around 2.7% in 2019, according to a separate report by Coresight Research, also released Tuesday.”
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