Book price wars escalate

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Book price wars escalate

Oct 19 2009

As Walmart and Amazon vie for the lowest online prices - Walmart.com have lowered their price on a handful of top selling hardcovers to $8.99, while Amazon remain at $9.00

Walmat CEO Raul Vazquez told the The Wall Street Journal last week that they "will go as low as we need to" in order to become a low-price leader. (Walmart and Amazon are buying at traditional discounts and selling at a loss.)

Hachette Book Group CEO David Young says: "It worries me from the perspective of the independent bookseller community that is so vital when it comes to launching new careers. I'm worried about the major book-selling chains, and I'm concerned about the implications for publishers and the public alike."

Source: Wall Street Journal (subscription required)

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