Amazon.com, Inc
The update includes exclusive savings on more than 3,000 grocery items for Prime members, both online and in-store.
The new savings program offers up to 50% off rotating grocery items and a 10% discount on Amazon's private-label brands.
Amazon also introduced its latest private-label brand, Amazon Saver, catering to budget-conscious shoppers.
Amazon Saver, the company's new line of affordable grocery essentials, is available online and in stores. Prime members enjoy an additional 10% discount.
Prime members can also earn 5% back on their purchases with the Prime Visa, maximizing savings online and in-store.
Amazon's move marks its attempts to snatch market share from Walmart Inc
Walmart held the top position in the U.S. grocery market with 23.6% market share in 2023 as per Statista.
In August, Amazon reported second-quarter topline growth of 10% year-over-year to $148 billion, missing the Street consensus of $148.56 billion.
It expects third-quarter net sales of $154 billion-$158.5 billion, versus the consensus estimate of $158.24 billion. Cantor Fitzgerald analyst Deepak Mathivanan expects a boost in the company's e-commerce moat with more regionalization.
Price Action: AMZN stock is up 1.20% at $177.50 premarket at the last check Tuesday.