I have posted here and here about the price wars going on between some of the worlds largest retailers. These companies are duking it out for the right to sell books to the public at a price LESS than their competition. That’s right. The GALL. The utter horrible greed these companies exhibit is unconscionable. To sell books cheap.
And the result?
By JEFFREY A. TRACHTENBERG
The American Booksellers Association has asked the U.S. Department of Justice to investigate the book price war under way between Wal-Mart Stores Inc., Amazon.com Inc. and Target Corp. to determine if it constitutes “illegal predatory pricing.”
In a letter dated Oct. 22, the ABA said it believes that the discount pricing—which has led to 10 of the most anticipated hardcover titles being priced as low as $8.98 on Walmart.com—amounts to such an act and that it is “damaging to the book industry and harmful to consumers.”
The letter said while it may appear that the prices will generate “more reading and a greater sharing of ideas in the culture,” many of the independent stores that belong to the ABA won’t be able to compete.
What we have here is capitalism at it’s best. Competition driving down the price of goods that people want. And we see organized unions working to stop the effort.
The best analysis:
Although independent booksellers typically stock only a smattering of best sellers, the steep discounting of such well-known authors ultimately could cause consumers to question whether all hardcover books are priced too high, at $25 or so.
Right. So selling a product well above its natural market value is a good thing? Freakin leftists.