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AMAZON TAKING ON GROCERS

With the completion of its $13.7 billion takeover of Whole Foods next week, Amazon will slash prices on bananas, eggs, salmon, beef and more. The retail giant also plans to offer Prime members special savings and other in-store benefits, and will begin selling Whole Foods brand products on its website. Amazon’s willingness to damage its own profit margins to create and maintain long-term loyalty is pinching competing grocers’ already razor-thin profit margins. (News-Gazette)

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