Overstock.com’s recent efforts to sell books at what they directly stated were “10 percent off Amazon’s book prices” has now become a campaign to match the prices of the bookselling titan, and those prices will be permanent.
“We think with the rise in sales volume, we can extract better pricing from publishers,” Overstock.com chief executive Patrick Byrne told the Wall Street Journal. “Publishers do want to see more competition for Amazon.”
Following Overstock.com’s campaign to sell titles at 10 percent off Amazon’s prices, the website cut prices on some of its bestselling titles, selling new releases like “And the Mountains Echoed” by Khaled Hosseini for $12.04 (its list price was $28.95). That price has now risen on Amazon’s site to $14.87. Another book that had its price reduced (though not as much as other books) by Amazon, “The Cuckoo’s Calling” by J.K. Rowling, has mostly held steady. Amazon initially reduced its price to $15.20, and it’s currently available for $15.19. (Its list price is $26.00.)
Byrne said Overstock.com has hired a company to check Amazon every day and make sure Overstock is still matching prices.