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Walmart, Kroger Under Pressure as Amazon Fresh Becomes Free for Prime Members

Published 10/29/2019, 11:49 AM
Updated 10/29/2019, 11:50 AM
© Reuters.

Investing.com - Grocery outlets are facing even more competition after Amazon (NASDAQ:AMZN) decided to make its food delivery service free for Amazon Prime users.

The service, available in around 2,000 cities across the U.S. and London, will also provide one and two-house delivery options and include options from Whole Foods. Current prime members who already use the $14.99 delivery service will get access to the service for free, while members who are interested will have to be invited.

The announcement could put pressure on other grocery outlets that provide delivery service, including Walmart (NYSE:WMT), which fell 1% in midday trade.

Kroger (NYSE:KR) slumped 3% and Amazon was down 1%.

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