Amazon is positioning itself to be the dominant retailer of the future with its $13.7 billion acquisition of Whole Foods. The deal isn't just about groceries.
CNBC reported last month that Amazon is hiring a team to break into the $400 billion pharmacy market. Buying up Whole Foods and its more than 450 retail locations could help Amazon in the hyper-competitive prescription drug industry.
"The acquisition of Whole Foods makes entry into pharmacy much easier for Amazon," said Stephen Buck, who co-founded GoodRx, a company that offers discount coupons on prescription drugs, and is now an entrepreneur in residence at venture firm Canaan Partners. "Amazon could use this retail footprint for consumers to pick up prescriptions."