Whole Foods Offers Steep Discounts To Prime Members As Rising Energy Prices Squeeze Rivals

But as Reuters points out, the new Whole Foods loyalty program might take some convincing. That's because, even after several rounds of price cuts, WFM hasn't been able to shake its "Whole Paycheck" image.

Still, Philadelphia-area Whole Foods shopper and Prime member Heather Kincade, 46, is going to need convincing.

While Whole Foods’ prices on staples like rotisserie chicken, bananas and avocados have come down, she still thinks some every day items are prohibitively expensive. "If I start buying dish soap and other things there, I will have hit the big time," she said.

Though if the cuts make all products at Whole Foods cheaper than its competitors, Prime members might become interested.

Either way, by persistently slashing prices, WFM is pressuring its much larger rivals to consider following suit even as rising fuel costs are contributing to higher expenses.

But while Whole Foods can withstand a prolonged period of losses thanks to Amazon's backing, the small grocery stores that still comprise a large chunk of the American market cannot.

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