What to make of the Amazon-Whole Foods deal?
On Monday, in a blockbuster $14 billion deal, tech giant Amazon acquired Whole Foods, the nationwide organic grocery store chain. The deal gives Amazon a significant stake in the supermarket industry and allows them to apply their delivery-on-demand business model to groceries. Consumers could soon find themselves ordering sugar, milk, and eggs at a click of a button. But while that may sound exciting for all those who hate going to the grocery store, things may not be so rosy for American workers.
Even before Amazon’s takeover of Whole Foods, physical stores had felt the negative effects of the online marketplace’s ability to aggregate the sale of thousands of products. For example, as reported in The Hill, Civic Economics, an economic research firm, found that Amazon’s sales in 2015 had resulted in a loss of over 200,000 retail jobs nationwide. Even if Amazon provides an easier way for Americans to buy cheaper goods, the company is creating new workforce challenges for policymakers.
As companies like Amazon continue to take up a bigger share of the American economy, legislators need to help prepare the American worker to compete in the economy of the future. Here at No Labels we’ve developed bipartisan proposals that will do just that. Share them with your legislators and encourage them to help ensure U.S. workers can find opportunities in our rapidly shifting economy.