Online shoppers are always looking for the best deal, and the number of people who shop online is steadily growing. Buying online is the new norm, fueled in part by the global pandemic and subsequent lockdowns when we were forced to buy much of what we needed online.
Online shopping is far more convenient and often cheaper than conventional shopping, but with so many products online, you need to shop around to find the best deal.
Cheaper somewhere else?
Amazon is the go-to place for customers looking for an online bargain. It has an enormous range of popular products, and its prices are competitive when compared to other online platforms. However, what if you have already bought a product and then find it on another site at a lower price? What is Amazon’s policy regarding adjustments and returns?
So, let’s get straight to it and answer the question… Does Amazon Do Price Adjustments?
How Amazon Pricing Works
Amazon’s pricing strategy is to keep prices as low as possible. In the past, Amazon would offer a 30-day price guarantee and would make a price adjustment if a customer found the same product elsewhere at a lower cost.
However, it stopped doing this in 2018. The company now relies on constant price monitoring to keep its prices as competitive as possible. This means it can change its pricing many times in one day.
Taking up too much time…
The reason for the change is that the price adjustment guarantee procedure was just too time-consuming and labor-intensive. Amazon decided that more effort should rather be focused on bigger discounts, promotions, and coupon codes.
The price adjustment guarantee policy is simply not suited to the modern e-commerce industry, and most online suppliers will undoubtedly do away with it soon.
The Refund Policy
If you find that you no longer want a product that you have bought from Amazon, or you have found the same product cheaper from another supplier, you can send the item in question back for a refund and use the money you get back to purchase the cheaper item.
Amazon and most Amazon sellers offer refunds of products returned within 30 days of receiving the shipment. Keep in mind that it can take up to two weeks for the shipment to reach Amazon.
Damages and defects…
Once it has been received, the refund will be paid out in about two working days. You can track your orders and returns on the website for updates on the progress. Partial refunds are also offered for any products with damages or defects. You just need to send them a picture or video as proof. By doing this, you can keep the product and still get a partial or even full refund on the product.
You can save money when buying from Amazon by clipping coupons and adding them to your shopping cart. Coupons can add a discount from 10 percent up to 70 percent on items. You can find coupons for all different kinds of products, from electronics and toys to pet supplies and many other gifts and accessories.
Keep an eye out for promotions that Amazon is offering. Sometimes you can save up to $5 on any order with a minimum price of $50. This usually only applies to countries outside the United States.
You can also click on ‘Today Deals’ on Amazon’s home page to see what promotions it is running. Alternatively, you can become an Amazon Prime Member for $14.99 per month and receive a 15 percent discount on all products ordered online.
How Does Amazon Pricing Compare To Retail Stores?
Shopping on Amazon is not only about convenience but also about affordability. It is often cheaper than conventional retail stores. On average, appliances available on Amazon are 13.3 percent cheaper, and electronics are 15.2 percent cheaper when compared to those available from Best Buy.
Amazon is also cheaper than Dicks, by approximately 18.4 percent, on sporting goods and cheaper than Wayfair, by 24.9 percent, when it comes to furniture sales.
These are Amazon’s biggest competitors in the United States:
- Alibaba Group
Does Amazon Do Price Adjustments? – About Amazon
Amazon is the largest online retailer in the world. It was founded in 1994 in Bellevue, Washington, by Jeff Bezos, who started the company by selling books online. Amazon now has a sprawling ultramodern headquarters in Seattle, Washington. By the end of 2021, the company had 1.1 million people employed in the United States and 1.6 million people across the globe.
Amazon sells every product you can imagine through e-commerce or cloud technology and digital streaming. It truly is one of the world’s most influential brands and leaders when it comes to online shopping and remote work opportunities.
It even inspired the well-used term ‘the Amazon Effect,’ which refers to the impact the retail giant has had on the digital marketplace and the disruption it has caused to traditional physical stores.
Did you know?
- Amazon was originally called Cadabra.
- The name Amazon was eventually chosen because the Amazon River is vast and wide, and it mirrored the company’s ambition.
- The Amazon headquarters in Seattle is a pet-friendly environment. The company has 7,000 dogs that “work” in the building. These are the employees’ pets, and they are registered to come to work every day with their owners.
- The building also has ‘spheres’ filled with over 400 species of plants. These serve as retreats for employees where they can escape the office environment and recharge.
- Amazon makes on average $638 million in revenue each day.
- Amazon’s logo depicts a smile that spreads from the A to the Z in the name, representing the smile it aims to bring to its customers’ faces.
More Information On Amazon!
If you’d like to learn the story behind Amazon and Jeff Bezos, then check out Working Backwards: Insights, Stories, and Secrets from Inside Amazon and Amazon Unbound: Jeff Bezos and the Invention of a Global Empire, along with The Everything Store: Jeff Bezos and the Age of Amazon, for an intriguing read.
Next, we have The Four: The Hidden DNA of Amazon, Apple, Facebook, and Google, and The Amazon Way: Amazon’s 14 Leadership Principles if you’re looking for business advice.
Lastly, why not make money using Amazon? I recommend reading How to Become an Amazon Selling Legend Using Retail Arbitrage, or the ever-popular Selling on Amazon For Dummies, as well as the AMAZON FBA: A Beginners Guide To Selling On Amazon, Making Money And Finding Products That Turns Into Cash, all available online in 2023.
Does Amazon Do Price Adjustments? – Final Thoughts
Although some suppliers do offer price adjustments for their products in the event of a cheaper competitor, Amazon does go out of its way to compensate customers for not providing this service by adjusting its prices daily to make sure it is competing with other suppliers.
Amazon prides itself on being committed to serving consumers through a physical and online service focused on selection, price, and convenience.
Good luck with your online Amazon shopping!