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Friday, October 16, 2009

Walmart Vs Amazon Price War - Over Sarah Palin’s Going Rogue

Wall Street Journal:
"Walmart launched a brash price war against Amazon.com Inc. on Thursday, saying it would sell 10 hotly anticipated new books for just $10 apiece through its online site.  That was just the beginning.

Hours later, Amazon matched the $10 price, squaring off in a battle for low-price and e-commerce leadership heading into the crucial holiday shopping season. Wal-Mart soon fired back with a promise to drop its prices to $9 by Friday morning -- and made good on that vow by early evening Thursday."

Walmart:
The splashy move to discount pre-orders of popular books such as Stephen King's "Under the Dome" and Sarah Palin's "Going Rogue" was part of a larger strategy to establish Walmart.com as the biggest and cheapest online retailer.

"If there is going to be a 'Wal-Mart of the Web,' it is going to be Walmart.com," said Walmart.com CEO Raul Vazquez in an interview. "Our goal is to be the biggest and most visited retail Web site."

Wal-Mart's $10 promotion applies to the top 10 books coming out in November but the company is also selling 200 best-sellers for 50% of their list price.

Dean Koontz, whose soon-to-be released novel "Breathless" is being discounted to $10 from $28, said that he thinks the discounting may prove a good thing for the authors involved.

"Any time people are fighting over your work it's a good thing, especially when you've worked all those years hoping it would be fought over," he said. "I don't think this is going to be a long-term thing. Rather, it sounds like a promotional strategy designed to call attention to Wal-Mart's decision to enter the digital marketplace more heartily than in the past."

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I live in DC and a I can be reached at sarah2012gop@yahoo.com