Amazon Working on New Grocery Format

Amazon and Whole Foods Market are working together on a new grocery format poised to disrupt the industry.

Amazon CFO Brian Olsavsky told analysts and investors on Amazon's Q3 conference call that the Seattle-based ecommerce giant is working on developing new grocery store formats as part of its integration of the Austin, Texas-based natural and organic grocer.

"There will be a lot of work together between Prime Now, AmazonFresh, Whole Foods, Whole Foods products on the Amazon site, Amazon Lockers at the Whole Foods stores," Olsavsky said. "So there will be a lot of integration, a lot of touch points and a lot of working together as we go forward. And we'll be also developing new store formats. We are experimenting with a lot of formats. I think that Whole Foods really gives us a vast head start on that, and a great base. So we're really excited about that, and I think working together, will bring our different strengths to the table and really be able to build on behalf of customers."

Olsavsky added that the company plans to open more Whole Foods stores.

Read the full story by Progressive Grocer's sister brand Retail Leader.