Whole Foods price cuts hit hardest at Trader Joe's, Sprouts

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Following Amazon's acquisition of Whole Foods and subsequence price cuts, rivals Trader Joe's and Sprouts Farmers Market have suffered heavily from consumers defecting, according to data released this week.

Customers appear to be sticking around after the price cut.

Representatives from Whole Foods and Amazon did not immediately respond to requests for comment.

A week later, traffic was running 17% higher year on year - and by the week ending 16th September, traffic remained up 4%, Reuters reported. "While most Whole Foods Market stores do not have these taprooms and restaurants, Whole Foods Market encourages its customers to closely monitor their payment card statements and report any unauthorized charges to the issuing bank".

This increase was to the detriment of rivals, with Trader Joe's hit the hardest.

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That's the message this week from analysts at JPMorgan, which studied satellite images of Whole Foods parking lots both before and after Amazon bought the natural grocery store chain.

According to the Thasos data, 10 percent of Trader Joe's regular customers visited Whole Foods between August 28 and September 3, more than any other competing chain, followed by Sprouts, with 8 percent.

Whole Foods said it is working with a cybersecurity forensics firm and authorities as it investigates the breach. Roughly three percent of the shoppers said they normally visit Target, while two percent were Kroger or Costco shoppers.

"The company's investigation is ongoing and it will provide additional updates as it learns more", Whole Foods says on its website. Orders at Amazon.com also were not affected. But the good news is that you don't have to freak out just yet, because the analysis of the firm's data isn't to say that we'll soon have to kiss these lower prices goodbye.

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