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Amazon beefs up Whole Foods sales

Friday, September 29, 2017 - 01:07

Amazon has reportedly sold $1.6 million of Whole Foods' store brand products online in the first month since taking over the organic grocery chain. Fred Katayama reports.

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Amazon is ringing up sales for its Whole Foods business. Analystics firm One Click Retail says the e-commerce giant sold about $1.6 million in Whole Foods' store-brand products in the first month since taking it over. It says one fifth of the Whole Foods products sold on Amazon consisted of snacks and candy, followed by frozen fruit and veggies. In the first week since Amazon took over the organic chain in late August, it registered half a million dollars in online sales with Whole Foods' "365 Everyday Value" products. One Click says sales fell over the next two weeks as some supplies ran low but rebounded in the fourth week. Wedbush Securities analyst Michael Pachter said, "Amazon does more than $500 million in sales per day, so who cares? The number is insignificant. Whole Foods does annual sales of $15 billion. It's not a big deal." Separately, the New York Post reports Walmart's Jet.com site will launch its own line of more than 60 grocery and household items in the coming months.

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Amazon beefs up Whole Foods sales

Friday, September 29, 2017 - 01:07