Amazon.com prices change 2.5 million times a day
The Amazon model is largely based on grassroots economics: offering as much as possible for as little as possible–even if that means changing prices 2.5 million times every day.
New analysis from Profitero, a global provider of online pricing data, reveals just how determined Amazon is to remain the most price competitive retailer on the Web. While retail giants such as Walmart and Best Buy have changed their prices about 50,000 times each in the entire month of November, Amazon has changed its prices 2.5 million times in the past 24 hours alone, in an attempt to provide customers with the cheapest products.
Yet while Amazon’s aggressive price-cutting may seem great right now for the average consumer, should we be worried about the retailer’s explicit attempts to (further) dominate an already highly-concentrated market? Amazon is making it increasingly harder for smaller firms to compete and it’s blatantly focusing its energies on becoming the world’s largest retailer. Can this backfire for consumers? Sure. Will it? Frankly, we can only hope that it won’t.
