The American e-commerce giant confirmed Amazon Fresh price cuts. Amazon confirmed its decision as it follows the efforts of other major retailers, such as Walmart and Target.
Amazon Fresh Price Cuts Announced
According to The New York Post's latest report, Amazon is drastically cutting prices of groceries at Amazon Fresh stores. The giant retailer said 4,000 items will reduce their prices by 30%.
Amazon is doing this in its online and brick-and-mortar Amazon Fresh stores. On Friday, May 24, the e-commerce firm said shoppers would receive discounts for various products.
These include cheese, dairy, beverages, pasta, snacks, meat, etc. Amazon said that the price cuts will allow Amazon-owned private label products and national brands.
"Increasing our weekly deals across thousands of items and expanding the reach of Prime Savings at Amazon Fresh is just one way that we're continuing to invest in competitive pricing and savings for all of our customers - both in-store and online," announced Amazon Fresh Worldwide VP Claire Peters.
Retailers, Fast-Food Companies Doing Cutting Prices
CNBC recently reported that various retailers and fast-food firms already announced their price cuts. Among them is Target, saying that consumers are becoming more selective in their spending in the face of sustained inflation.
Walmart also announced grocery rollbacks and short-term deals on certain products. The giant retailer even introduced a new premium grocery brand with items below $5.
In addition to them, McDonald's, Aldi, and other major grocers and fast-food firms also decided to reduce their prices. This just shows that more and more companies are willing to make their products cheaper to regain the consumers they lost due to inflation.
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