Amazon packs the most poweful punch when it comes to pricing
Nov 18, 2024, 12:49 PM
The Amazon logo is seen on the exterior wall of a fulfillment center. (AP Photo/Damian Dovarganes)
(AP Photo/Damian Dovarganes)
Amazon continues to dominate the online retail market with the lowest prices, according to an independent study by Profitero. For the eighth consecutive year, the company has been recognized for its competitive pricing, with prices averaging 14% lower than other major U.S. retailers.
The 2024 Profitero study, which analyzed more than 13,000 products across 22 leading U.S. retailers, highlighted Amazon’s consistent delivery of the lowest prices across all 15 product categories, including appliances, baby products, beauty, electronics and fashion. Everyday essentials such as beauty and baby products are up to 6% cheaper on Amazon, while top gift categories like electronics and toys are up to 9% less expensive.
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Doug Herrington, CEO of Worldwide Stores, emphasized the company’s commitment to saving customers money.
“We work hard every day to offer lower prices than any other major retailer,” Herrington said in a news release on the company’s website.
Prime members benefit from additional savings and fast, free delivery with exclusive deal events like Prime Day and Prime Big Deals Day, allowing Prime members to save billions annually.
Customers can look forward to Amazon’s Black Friday and Cyber Monday deal events from November 21 to December 2, offering millions of deals across more than 35 categories.
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In addition to its competitive pricing, Amazon has introduced Amazon Haul, a new shopping experience within the Amazon app. Designed to offer customers a wide range of products priced at $20 or less, Amazon Haul aims to compete with discount retailers like Temu and Shein by providing ultra-low prices on various items, including fashion, home goods, lifestyle products and electronics.
Key features of Amazon Haul include:
- Affordable Prices: All items are priced at $20 or less, with many products under $10
- Wide Selection: The store offers a broad selection of products across multiple categories
- Delivery Times: Items typically arrive within one to two weeks
- Extra Savings: Customers can enjoy additional discounts on larger orders, such as 5% off orders over $50 and 10% off orders more than $75
- Free Returns: Eligible items over $3 can be returned for free within 15 days of delivery
Amazon Haul is currently available in the U.S. through the Amazon Shopping app.
Bill Kaczaraba is a content editor at MyNorthwest. You can read his stories here. Follow Bill on X, formerly known as Twitter, here and email him here.
