Amazon quietly slashes book prices to new lows in apparent competition with Overstock.com
July 31, 2013
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!
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.
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…
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