In the past twenty years, growth among large grocery chains in North America has been just 2 percent, while commodity and labor costs have been increasing.
Whole Foods' plans to slash prices on Wednesday are a sign of the"cutthroat competitive landscape in food retailing," Moody's analyst Charlie O'Shea said Tuesday.
"Amazon's plans to cut prices on hundreds of products at Whole Foods, as well as offer expanded benefits to its Prime members, recognizes the cutthroat competitive landscape in food retailing, led by Walmart's relentless push to continue expanding its leading market position in the segment," said O'Shea.
As result of this pressure, major U.S. grocers increasingly have to fight on all three fronts: price, service and technology. Walmart, already known for its low prices, has been adding delivery services to its roster, as well as experimenting with driverless cars. U.S. e-commerce chief Marc Lore recently said Walmart will find a way to one day put groceries right into customers' refrigerators.
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