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Amazon is slashing Whole Foods' prices by 20% on hundreds of items

Whole Foods
Whole Foods is slashing prices. Justin Sullivan / Getty Images
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Amazon is slashing prices by as much as 20% on hundreds of items at Whole Foods this week, the companies said on Monday.

The cuts, set to take effect on Wednesday, will target fresh peak-season produce such as greens, tomatoes, and tropical fruits.

Amazon also said on Monday that it would double the number of Prime-member deals available to Whole Foods shoppers. Customers should expect more than 300 Prime-member deals in stores over the next few months, the company said.

In a press release announcing the cuts, Whole Foods CEO John Mackey said customers can expect the grocer to lower prices even more in the future.

"We will continue to focus on both lowering prices and bringing customers the quality they trust and the innovative assortment they expect from our brand," he said.

Read more: Amazon could be gearing up to reveal Walmart, Kroger, and Aldi's worst nightmare

A post on Amazon's Day One blog reiterated that the cuts "will not happen at the expense of the quality that customers know and expect from" Whole Foods.

Amazon has been criticized for failing to make much of a dent in prices at Whole Foods since purchasing the grocery chain for $13.7 billion in 2017.

Prices were a little cheaper for a period of time, then rose again. Amazon is now reportedly planning to launch a new grocery-store chain with stores that are smaller and cheaper than Whole Foods, and carry a broader assortment of products.

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Hayley Peterson
Hayley Peterson
Hayley Peterson is an Executive Editor who oversees coverage of the economy, tech, media, advertising, defense, careers, and more.She was previously a chief correspondent at Business Insider and wrote breaking news, analysis, and in-depth investigations on large consumer companies, with an emphasis on retailers including Amazon, Walmart, major grocery chains, and department stores.Hayley won recognition from the Society for Advancing Business Editing and Writing in 2018 for "defining the retail apocalypse" through her reporting on retail job losses, the decline of Sears, and the impact of store closings on bondholders.Prior to joining Business Insider in 2013, Hayley was a White House correspondent and embedded on the presidential 2012 campaign trail.