A customer walks out of a Whole Foods Market store in Santa Monica, California, U.S. March 19, 2018. REUTERS/Lucy Nicholson
When Amazon.com Inc bought Whole Foods last year, investors panicked and dumped shares in Kroger, Sprouts Farmers Market and even Walmart. The fear was that the e-commerce leviathan would disrupt yet another industry.
Since then, the concerns have subsided as investors and analysts came to recognise that it will be years before Amazon becomes a major player in the US$800bil (RM3.28tril) industry. Meanwhile, traditional grocers have more than managed to hold their own.
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