New York -- Amazon.com made more than 2.5 million price changes a day throughout November, according to price intelligence firm Profitero. By comparison, in November, Best Buy implemented a total of 52,956 price changes every day and Walmart a total of 54,633 price changes.
Profitero’s analysis revealed that Amazon.com has increased its number of daily price changes 10-fold during the last 12 months. At the beginning of December 2012, the online retailer implemented just 269,113 price changes.
The extent of Amazon.com’s daily price changes is even more significant when compared with the number of daily price changes implemented by brick-and-mortar retailers Walmart and Best Buy. During November, Best Buy made a total of 52,956 price changes and Walmart a total of 54,633 price changes, highlighting the massive price advantage Amazon has over other retailers — and demonstrating why retailers need to monitor their online competitors’ prices every day to remain competitive on the market and avoid losing sales.
“It’s staggering that Amazon.com is making millions of price changes on a daily basis,” said Volodymyr Pigrukh, CEO and co-founder of Profitero. “The sheer scale of these price changes demonstrates why brick-and-mortar retailers need to be using an advanced online price intelligence solution if they want to compete with Amazon.”
Profitero predicts that the number of price changes is only going to increase as the retail landscape becomes more competitive, and so it’s impossible for any retailer to monitor this number of price changes manually.
“To understand where they stand against their competitors’ prices and avoid losing out on sales, retailers need to monitor Amazon’s prices on a daily basis,” Pigrukh said.