Today, it was announced that Amazon would be acquiring Whole Foods — for $13.7 billion. This is further evidence that the retail juggernaut is becoming a true bricks-and-clicks retailer. Although Walmart is the world’s biggest retailer, Amazon is THE single biggest disruptive force in retailing!!
“The deal comes as the high-end grocer has been trying to fend off pressure from activist shareholders frustrated by a sluggish stock price. Whole Foods last month unveiled a sweeping overhaul of its board, replacing five directors, naming a new chairwoman, and bringing in a new CFO. It also laid out plans to improve operations and cut costs.”
“Amazon has designs on expanding beyond online retail into physical stores. The company is slowly building a fleet of outlets, and much attention has been focused on its grocery store dreams. It has already made an initial push through Amazon Fresh, its grocery delivery service. The E-commerce giant has been testing a variety of other retail concepts. It has opened a convenience store that does not need cashiers, and has explored another grocery store concept that could serve walk-in customers and act as a hub for home deliveries.”
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