Amazon Introduces Low-Cost Grocery Brand To Attract Value-Seeking Consumers

Benzinga

Amazon launched a new private-label grocery brand, consolidating Happy Belly and Amazon Fresh under the “Amazon Grocery” label. The line offers over 1,000 items, mostly under $5, to attract budget-conscious shoppers. The move pressured rival grocery and retail stocks, including Walmart, Kroger, and Target.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Amazon launched a new private label grocery brand targeting budget-conscious shoppers,

00:07with most items priced under $5, according to CNBC. The new brand, Amazon Grocery,

00:14features over 1,000 items, including dairy, produce, meat, seafood, snacks, and baking

00:20essentials. It consolidates the company's Happy Belly and Amazon Fresh brands under one label.

00:26The company highlighted that the new brand supports consumers need to stretch grocery budgets

00:31while maintaining quality. The move rattled grocery and retail stocks, with Albertsons falling more

00:37than 2% and Walmart, Kroger, Costco, and Target each slipping about 1%. Amazon has experimented

00:45with value-focused grocery offerings with last year's Amazon Saver, and is continuing to

00:50streamline its fresh and go stores while expanding online grocery delivery.

00:54For all things money, visit Benzinga.com.

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