AirTalk®

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As expected, the Amazon-Whole Foods deal is causing havoc in the grocery industry

by AirTalk®

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A car drives past an AmazonFresh Pickup location on June 16, 2017 in Seattle, Washington. David Ryder / Stringer

When Amazon announced its acquisition of Whole Foods back in June, the expectation was that the deal would cause major disruptions to the grocery industry.

The $14-billion purchase is expected to close Monday. In anticipation of the deal’s finalization, Amazon announced yesterday that it plans to lower prices on a number of items at Whole Foods, as well as offers Amazon Prime members a discount.

The news quickly translated to a stock-price hit for a number of grocers, including Costco and Kroger, erasing some $12 billion in market value from these companies.

Guests:

Phil Lempert, a supermarket and consumer behavior expert with the Santa Monica-based market retail firm SupermarketGuru.com; he tweets @PhilLempert

Burt P. Flickinger, III, managing director of Strategic Resource Group, a consumer industry consulting firm in New York; he tweets @Burt_Flickinger

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