Amazon drops prices leading up to Presidents’ Day, but average prices were higher than on February 1; Staples only retailer in sample with lower price on February 16.
Ottawa, Canada – March 17, 2015 — 360pi, the leading provider of retail price intelligence, today announced pricing trends in electronics from February 1 – March 1, 2015, sampling over 900 available products, before shipping, in Amazon’s assortment of electronics including headphones, televisions, computers, tablets, cameras and monitors.
According to 360pi’s pricing data:
- Electronics prices have relaxed post-holiday: When compared to analysis from the beginning of December 2014, Walmart did not price as close to Amazon during the month of February as it did during the holiday season. Staples and Office Depot priced closer to each other and Sears has gained a competitive advantage since the holidays.
- Not everyone is on board with Presidents’ Day: Presidents’ Day is historically known as a big marketing and promotional event for retailers, but 360pi’s data showed only a modest drop in average price observed in this sample of electronics. Amazon dropped prices leading up to Presidents’ Day, but the average price was higher than it was on February 1. Staples was the only retailer in the sample that had a lower price on February 16 compared to February 1.
- Electronics price dynamism appears to be in line with overall trends: As seen in other 360pi benchmark reports, Sears regularly hits higher levels of price dynamism than Amazon, and during the month of February, re-priced up to 32% of its sampled assortment on any given day. Office Depot and Staples found a similar pattern of price dynamism, changing prices following every weekend in February. The amount of price changes observed at Staples spiked on Presidents’ Day, reflecting the retailer’s significant drop in average price.
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360pi derives profitable insights from product and pricing big data to help leading omnichannel retailers, etailers, and manufacturers compete and win in a price transparent world. 360pi’s customer base accounts for over $US100 billion in annual retail sales and includes Ace Hardware, Build.com, Overstock.com, and RIS Fusion award-winner Best Buy Canada. 360pi monitors millions of products with unprecedented accuracy to give retailers and manufacturers real-time visibility into the market with full awareness of the retail pricing landscape to “right price” for their respective customers. Ultimately, 360pi helps customers make smarter pricing decisions to drive increased revenues and margins.
Ketner Group PR + Marketing (for 360pi)
(613) 562-2525 x 511