In its second-largest acquisition, Amazon buys the company for $970 million.
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An index tracking the price adjustments of 20 consumer electronics and durable goods e-retailers from price analytics firm 360pi shows that Amazon.com, from Thursday through Sunday, adjusted its prices for about 20% of the several thousand goods 360pi tracked. This does not account for price adjustments made by marketplace sellers, that is, outside retailers that sell on Amazon.com. Amazon made the greatest number of adjustments on Sunday, 22%, and the least on Saturday, 18%. This is far more than were made by other retailers in the index; other merchants changed the prices on approximately 8% of the goods tracked by the index over the weekend, with a high of 12% on Sunday and a low of 6% on Saturday.
“In today's hyper-competitive and price transparent retail environment, we are not surprised to see retailers changing their prices this often,” says Alexander Rink, CEO of 360pi. “Retailers know that their customers will be comparing their competitors online or on their mobile phones in their stores.”
In fact, 13% of online buyers who shopped with a mobile device this weekend did so while in a retail stores, according to a survey of 10,000 consumers who bought online from Thursday through Sunday by comparison shopping site Bizrate and Forrester Research, a consulting and research firm. The survey finds that 25% of consumers who bought online this weekend shopped with a mobile device. Of those, here are the percentages who used mobile devices to do the following:
- make a purchase, 70%
- browse or research products, 60%
- check prices, 56%
- read product or store reviews, 37%