An Amazon store inside Whole Foods

At 365 by Whole Foods, customers order many items at kiosks. The store has fewer employees than typical grocery stores.

Under Amazon ownership, Whole Foods tries to shed its "whole paycheck" image

Customers used to call Whole Foods "whole paycheck" because of its steep cost. But ever since Amazon acquired the grocery chain, the parent company has aggressively cut prices on basics like turkey and bananas. That move is rattling competitors like Kroger and Sprouts.

In addition, Amazon brought in mini-stores between the aisles of a handful of Whole Foods stores, showcasing speakers and electronic books. Is Amazon transforming the high-end grocery store into a multi-functional shopping center?

Burt Flickinger is managing director of the retail consulting firm Strategic Resource Group. He joined Take Two to talk about what this means for consumers and competitors this holiday season.

Click on the blue media player above to hear more about the new direction of Whole Foods under Amazon ownership.