Amazon AMZN recently expanded the availability of Whole Foods discount across 10 new U.S. states to its Prime members.
Prime members can now benefit from the offer at the Whole Foods Market 365 stores nationwide and those across 10 new states, including Arizona, Georgia, Hawaii, Oregon, North Carolina and Washington.
Also, the company has outperformed the industry it belongs to on a 12-month basis. The company’s shares have gained 75.1% compared with the industry’s growth of 48.2%.
More on the Headlines
This announcement enables Prime members to avail an additional 10 percent discount on their purchases along with a special weekly off on selected purchases made at these stores.
To benefit from these offers, Prime members need to download the Whole Foods app, sign in with their Amazon account and then scan a code during the checkout process. They can also use their mobile phone number during checkout.
The successful acquisition of the Whole Foods Market last year helped Amazon bolster its presence in the grocery retail market. Since then, Amazon has been expanding perks at the grocery chain, including lowering prices on a number of grocery staples.
These lucrative offers are sure to drive subscriber base for the company, consequently aiding its revenue generation.
Prime — Key Catalyst
Amazon is continuously making efforts to expand its Prime business globally. Recently, Jeff Bezoz revealed the number of paid subscribers for Amazon Prime. The figure has crossed more than 100 million worldwide since its inception, which is a positive.
Additionally, Prime members in the United States have started receiving unlimited free two-day shipping on more than 100 million different items.
The company offers 5% cash-back benefit to prime members who use Amazon Prime Rewards Visa card while shopping at any Whole Foods store.
We believe, Amazon’s strong focus on enhancing Prime service with the help of exciting discounts, free deliveries within a short period of time, FBA strategy, expanding movies and video portfolio, and many more will continue to help it improve its customer base and encourage Prime membership.
Zacks Rank & Other Stocks to Consider
Currently, Amazon sports a Zacks Rank #1 (Strong Buy). Other top-ranked stocks in the same industry include Groupon (GRPN - Free Report) , PetMed Express and Expedia (EXPE - Free Report) . While Groupon sports a Zacks Rank #1, PetMed and Expedia carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth for Groupon, PetMed and Expedia is currently projected to be 6.5%, 10% and 14.5%, respectively.
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