Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

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%.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.