2017 in review: the top 20 stories

Dec 2017

Amazon enters physical retail with Whole Foods buy

As if changing the face on the retail space was not enough, Amazon decided to enter traditional food retail too by acquiring Whole Foods Market in a deal worth US$13.7 billion. Whole Foods, whose fleet of stores now numbers more than 430 locations, has found it difficult to attract more mainstream consumers as Walmart and other large chains have stepped up their sales of natural and organic products. Amazon has recently begun experimenting with bookstores and a small grocery, but this is by far its most ambitious move into physical retail.