Dive Summary:
- Overstock.com Inc. announced that, as of July 22, it dropped prices on the around 360,000 books sold on both Overstock.com and Amazon.com so that its prices were 10% lower than its competitor's.
- The ecommerce site's inventory of over 466,000 books is the highlight of the promotion, and the end date will be dependent upon consumer response.
- Executives at the company already claim its prices are, on average, 9% cheaper than Amazon on products available through both sites.
From the article:
... The promotion highlights Overstock’s inventory of more than 466,000 books, says a spokesman for the retailer, which is No. 31 in 2013 Top 500 Guide. “Everyone is accustomed to looking at Amazon when they’re shopping for books,” he says. “We’re hoping this will get them to look at Overstock first.” ...
