Amazon.com Inc. cut the price of top-selling books including Sarah Palin’s “Going Rogue: An American Life” to $9, matching yesterday’s online price reduction by Wal-Mart Stores Inc.
Amazon.com, the world’s largest online retailer, and Walmart, the world’s biggest retailer, are vying for sales of hardcover books scheduled for release in November. Walmart also offered free shipping and price cuts of 50 percent or more on 200 bestsellers, including Dan Brown’s “The Lost Symbol,” the company said yesterday in a statement.
“The book price war does not impact every possible book, but it goes after blockbuster titles that drive a lot of volume,” Richard Hastings, a Charlotte, North Carolina-based consumer strategist for Global Hunter Securities LLC, said today in an e-mail. “Walmart is looking to cross-pollinate its online- to-stores business, something that Amazon.com cannot do since it has no physical stores.”
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