UK supermarket shares are likely to remain under pressure this week after Amazon cut food prices at Whole Foods’ US stores by more than 40% on the first day of full ownership of the organic grocer.
Amazon is committed to cracking the grocery market, Kantar Worldpanel’s head of retail and consumer insight, Fraser McKevitt, said.
Most of the 460 Whole Foods stores are in the US, but the retailer has seven in the UK and cut prices at those stores by up to a third.
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