Amazon continues to sweeten the Whole Foods shopping experience for its Prime Rewards customers. As the following article reports, Amazon’s Visa credit card from Chase, will receive a 5% cash back for Prime members and 3% from everyone else on Whole Food purchases.
A credit card that gives Amazon Prime customers 5 percent back on all Amazon purchases now offers those benefits for Whole Foods Market orders, as well.
Amazon announced the extension of the Amazon Prime Rewards Visa Signature Card, which is available only to Prime members, with Chase Bank Monday, adding another integration between Amazon and Whole Foods. For non-Prime members, the Amazon Rewards Visa Signature card offers 3 percent back on Amazon and Whole Foods purchases.
In addition to the Amazon and Whole Foods rewards, cardholders get 2 percent back at restaurants, gas stations and drugstores and 1 percent back on all other purchases
Expect to see more integration between Amazon’s technology and Whole Foods. The Prime fast-shipping program will be at the heart of it. When the Amazon-Whole Foods deal closed last year, Amazon Worldwide Consumer CEO Jeff Wilke noted that Amazon plans to “make Amazon Prime the customer rewards program at Whole Foods Market.”
The company last year added hundreds of Whole Foods items to AmazonFresh, its own grocery delivery service that launched more than a decade ago. There is also now a Whole Foods online storefront on Amazon’s website.
Soon after the deal closed, Amazon devices like the Echo and Fire TV started showing up in stores. Amazon opened pop-up stores this past holiday season at Whole Foods locations with opportunities for customers to try out devices and learn more about Prime.
Amazon has steadily introduced various cross-selling opportunities between its empire and Whole Foods. Both companies still have many customers who do not frequent both retailers, so there is a sizable market to gain. Cash back credit cards are a good marketing vehicle to attract both new and existing customers as well. Most airline and hotel rewards programs are being continually devalued, so it’s no surprise that consumers are gravitating toward cash back rewards to see the money now.
Overview by Raymond Pucci, Associate Director, Research Services at Mercator Advisory Group
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