Being one of the leading e-commerce websites in the world, Amazon frequently adjusts its prices during the holidays and other peak shopping seasons to increase its sales and customer satisfaction.
However, Amazon is known to change its prices quite frequently, and some customers have wondered what the reason for this is. If you’d like to find out, keep reading to see what I learned!
Why Do Amazon Prices Change?
Amazon regularly changes its prices in order to keep up with shopping trends and customer feedback. Amazon’s goal is to match or even beat the prices of their competing stores in order to bring more customers to their website instead of making purchases from competitors. On average, Amazon products will change prices several times a day.
Keep reading through this article if you’d like to learn more about how often Amazon changes prices, how to get a lower price on Amazon, how to be notified of price changes, and other useful tips!
How Often Does Amazon Change Prices?
According to reliable sources, Amazon changes as many as 2.5 million prices per day on their website. On average, product prices will change about every 10 minutes per day.
Amazon changes its prices to keep up with the data they receive about its competing stores that sell the same products for less.
This method of regularly altering prices enables Amazon to keep on top of trends in sales so that they can bring more customers to their website.
Therefore, customers who are displeased with the price of a certain product can revisit the product page at a later date to see if the price has been altered.
If the product that a customer is looking into is a popular item, they may have a better chance of receiving a price change!
Does Amazon Offer Price Matches?
While Amazon will change prices and price-match using their own data on products, Amazon does not accept price-match requests from customers directly.
Amazon doesn’t price-match for customers due to the number of updates they receive on price points for their products. That is, Amazon receives constant updates on prices that should be altered.
Therefore, if there is a price on Amazon that warrants a price change, Amazon is usually aware of it and will issue a price adjustment within a reasonable amount of time.
This being the case, customers who are displeased with a price on Amazon can check back at a later date or add the product to their Amazon Wish List to be notified of any price difference.
How Do I Get a Lower Price on Amazon?
In order to get a lower price on Amazon, customers can utilize a couple of different methods.
The main organic way to receive a price reduction is simply to check the product page for the item customers would like to purchase on a regular basis.
Because Amazon changes its prices so often, many products that customers wish to purchase will receive price reductions.
However, customers can also get lower prices by getting browser extensions like Honey or CamelCamelCamel to receive notifications for any coupons, discounts, or Amazon sellers listing the same products for a lower price.
Does Amazon Refund Orders When the Price Changes?
If customers have purchased an item from Amazon, and the price was lowered shortly after, they may be eligible for a refund!
Customers are only eligible for a potential refund if the price of the item they purchased was altered before their order was fulfilled.
Therefore, if the item they purchase has not yet been shipped, customers may request a refund for the difference in price.
This refund policy also applies to purchases that received a price increase before their order was fulfilled. Some products will be charged at an increased price if the change was made before the customer’s payment was processed.
However, customers should note that they cannot request a refund if the item they purchased received a price alteration after their order was fulfilled.
Additionally, customers should note that Amazon has the right to refuse a refund if they believe the price alteration wasn’t significant enough to warrant a refund.
How Can I Be Notified Of a Price Change on Amazon?
If customers wish to be notified of a price change on Amazon, they can receive such notifications by adding their desired products to an Amazon wish list.
Whenever a product has a price alteration on Amazon, all the wish lists containing the item will receive a message notifying them of the price difference.
As well, browser extensions such as Honey will notify Amazon customers when there is either a price reduction for a product or if another Amazon seller has the same item listed for a cheaper price.
Additionally, apps such as Price Alert For Amazon will track the price history of chosen products on Amazon and notify customers every time they receive an update.
How Does Amazon Know When to Change Prices?
Amazon will alter its prices according to the updated data they receive from other companies that sell the same products at a cheaper price.
Amazon will update its prices on a daily basis and generally alter a price shortly after they receive information about lower prices at competing businesses.
As well, Amazon will take peak shopping seasons into account when making price alterations, such as the holiday and back-to-school seasons. During peak shopping times, Amazon will usually run sales and temporary discounts on popular products.