How to do “real retailing”, (an 'Intangible Asset') The Whole Foods customers (their most valuable 'Other Tangible Asset') First, “real retailing”. All of the operational things Amazon has shown little patience for. How to operate real stores: How to staff them; keep them open 18 hours a day; deal with “clean up on Aisle 7”. How to keep the shelves stocked; receive the merchandise; deal with returns. How to deal with spoilage; display the merchandise; answer questions on where are the restrooms. How to handle the cash(!); maintain security. How to deal with the General Public IRL ('in real life'); etc; etc; etc. And, the Whole Foods customer. There is a great overlap of the Whole Foods customer with Amazon's coveted Prime customers . (It’s been reported that 60%+ of Whole Foods customers already are Amazon Prime customers.) Whole Foods has attracted and retained the loyalty of “Prime type” customers. And Whole Foods has done all this in the highly competitive grocery segment. Amazon cares about delivering “good customer service”, and wants to learn only from one of the best. (In fact, we wondered whether Nordstrom’s contemplation of going private could lead to their acquisition by Amazon as well. But that’s for another day.) So, our take-away: Amazon’s $13 Billion acquisition of Whole Foods Market is the ultimate tip-of-the-hat to “real retailers” everyday. All of you who make doing retail look so easy! But look out! While Amazon knows and respects what they don’t know, they are a very quick study.