It is apparently freaking the shttp://moelane.com/2017/06/16/more-on-that-ama…hole-foods-thing/upermarket industry out. More accurately, it’s freaking out investors. Fox Business:
Kroger shares slumped 11 percent, United Natural Foods Inc tumbled 17 percent, Sprouts Farmers Market Inc sank 11 percent. The S&P 500 food and staples retailing index was off 5 percent… Wal-Mart dropped 6 percent and Target Corp dropped 10.6 percent… [European] Supermarket chain Tesco Plc shed 2.9 percent and Carrefour dipped 2.6 percent.
As well they should be. If the Amazon/Whole Foods purchase deal goes through — I use the service all the time*, usually with perfect satisfaction, but even I’m wondering how the company manages to avoid anti-trust sanctions — it could be terrifying for the supermarket industry. If Amazon can teach Whole Foods how to stop being “Whole Paycheck,” it could be Armageddon.
Oh, man, if they cut costs AND set up reliable free grocery delivery then we might as well start teaching cyberpunk novels in business school. Why? Because at that point we’re all living in a classic megacorp world, anyway. On the bright side, there’s a hell of a lot more trees, un-mutated critters, and direct sunlight than we were given to expect, so maybe it’ll be what GURPS calls “cyberprep.”
*I interrupted writing this to go get a package from Amazon, in fact.