Online retailer Overstock.com has been waging a price war with its larger competitor Amazon since July, focusing on the business for which the Seattle-based company is best known: books.
In a statement today (below), Overstock announced a fresh salvo in its war against Amazon, this time targeted at enhancing its rewards program. In addition to matching Amazon’s book prices, Overstock will now give its “Club O” members “Club O Dollars” worth 15% of the book order purchase price. According to the company’s website, Club O Dollars are “earned rewards that are as good as cash on future Overstock.com purchases.” Club O members receive free shipping on Overstock orders for $19.95 a year.
“Last month we started a book pricing war with Amazon,” said Patrick Byrne, Overstock.com chairman and CEO in the statement. “We’re hoping to continue that battle, in a way that lessens any harm to the mom-and-pop booksellers we consider our comrades in arms.”
Since this pricing promotion targets Overstock’s “most loyal” customers, it shouldn’t harm local bookstores which have already lost the business of dedicated online shoppers, the company reasons.
In late July, Overstock announced that it would sell books for 10% lower than the prices found on Amazon. Amazon quickly matched prices …read more
Via: Digital Book World