Amazon quietly slashes book prices to new lows in apparent competition with Overstock.com


Mike:

Interesting. These e-book sellers must be making a ton of money selling copies of something that costs little to produce other than the amount paid to the author. What this market needs is competition to drive the price of e-books down. We would all benefit!

Originally posted on Gigaom:

Amazon (s AMZN) is facing an unusual opponent in the battle for the lowest book prices online: Overstock.com (s OSTK), which last week announced a promotional campaign to sell its books “at least 10 percent below Amazon.com’s prices.” While that promotion was only supposed to last for a week, Overstock has decided to continue it for longer.

overstock.com

In response, Amazon is slashing its own prices on print books. In a special report over the weekend, trade publication Shelf Awareness noted that Amazon has begun “discounting many best-selling hardcover titles between 50 percent and 65 percent, levels we’ve never seen in the history of Amazon or in the bricks-and-mortar price wars of the past.” Publishers Marketplace, however, notes that Amazon has offered similar discounts in the past when matching promotions from retailers like Walmart (s WMT).

In some cases, Amazon’s hardcover prices are below the prices it’s charging for Kindle books…

View original 321 more words

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About Mike
A resident of the “30 square miles surrounded by reality,” I spend most of my time teaching economics and statistics to undergraduate students. I enjoy, naturally, economics and business, but also science (I was once an astronomical observatory assistant), politics, photography, food, travel and sports. Madison has grown quite a bit since 1978 when Governor Lee Dreyfus made that remark. According to Wikipedia, Madison is 67.3 square miles of land and 16 square miles of water. Visit http://thisgotmyattention.wordpress.com/about/ for one of my favorite views of the isthmus. Or, why not come visit us! http://visitmadison.com

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