Online retail giant Amazon loathes rival Walmart so much that it’s slashing prices on 500 grocery items at its Whole Foods subsidiary just to crush Walmart into the ground. That’s what CNBC commentator Jim Cramer claims.
“They hate, hate, hate Walmart!” said Cramer. “Walmart is the biggest grocery chain in the country. Amazon will stop at nothing to take away the [market] share that Walmart has gained.”
AMAZON WILL GO SCORCHED-EARTH IF NECESSARY
On April 1, Whole Foods announced that it’s reducing prices on 500 grocery items, with a focus on fresh produce and meats.
The sale is part of Whole Foods’ effort to rehabilitate its image as an overpriced grocery chain for pretentious hipsters. This is the third round of price cuts the specialty grocer has enacted since it was acquired by Amazon in 2017.
Jim Cramer — whose charitable trust owns Amazon stock — say his sources told him that Amazon would launch a scorched-earth campaign if necessary just to annihilate Walmart.
Cramer claims that if Walmart responds by cutting prices to retaliate, Whole Foods will undercut them because Amazon refuses to be “beat on price.”
WHOLE FOODS WANTS TO SHAKE ‘WHOLE PAYCHECK’ IMAGE
Cramer excitedly noted that the heated competition between Walmart and Amazon has been good for customers because they keep cutting prices to outdo each other.
“These guys are doing everything they can to take market share away from each other. That’s great for the consumer.”
Because of its high prices, shoppers have long referred to Whole Foods as “Whole Paycheck.”
Accordingly, Whole Foods has been mocked on social media for years for its overpriced grocery items.
One person snarked:
“Robbers stole $60,000 from a NYC Whole Foods. Police don’t know if the bag of apples and loaf of bread will ever be recovered.”
Another quipped: “My loan from the bank to buy milk from Whole Foods was approved.”
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Meanwhile, many New Yorkers have not forgiven Democrat Congresswoman Alexandria Ocasio-Cortez for chasing Amazon out of New York in a move that cost the city 25,000 high-paying jobs.
