Overstock To Permanently Match Amazon Book Prices
In July 2013, Internet retailer Overstock.com offered a sale on all its books, pricing them 10% below Amazon’s prices. In response, Amazon matched Overstock’s new prices.
On August 19th, Overstock.com released a statement saying it would permanently match Amazon prices on their print books. It will also give its “Club O” program members a 15% rebate in Overstock credit on book purchases in order to “effectively undercut Amazon’s book prices for Overstock.com’s most loyal customers without adding undue pricing pressure to independent book stores.”
Overstock.com’s CEO Patrick Byrne is quoted in the Wall Street Journal saying, “We think with the rise in sales volume, we can extract better [wholesale] pricing from publishers. Publishers do want to see more competition for Amazon.”