How will offering cash back rewards at Whole Foods affect Amazon and the grocery chain? Will added sales, data or something else prove to be the biggest benefit to Amazon and Whole Foods from this offer?
Interactive Edge’s CEO, Zel Bianco comments:
It will be both sales and data. I don’t see a downside to this. I will sign up for the card as we are Prime members but why not get the 5 percent vs. the 3 percent? It will also go a long way in helping to balance the price gap that most people still believe is there. I am somewhat surprised that Prime members only spend an average of $1,379 annually. That seems quite low and may suggest that many shoppers do not buy all their groceries at Whole Foods and look to other retailers to fill in categories like personal products and paper goods. I know we do.