Sears.com Bounds Into Book Price Wars With Store Credit Offer
Amazon.com and Wal-Mart started the book price war by reducing prices on top selling hardcover books to $9. Then Target jumped in and undercut Amazon.com and Wal-Mart by 1 cent. Target cut prices on highly anticipated books to $8.99.
The price wars come two months before the holiday season, which analysts say will be characterized by big promotions. Retailers are hoping consumers associate their brands with value in a year in which unemployment is rising and consumer confidence remains weak.
Last Thursday, Walmart.com, the online division of Wal-Mart Stores Inc (WMT.N), cut prices on 10 yet-to-be-released hardcover books to $10 each, sparking a price war with Amazon.com.
After both online retailers then cut their prices on those books to $9 each, late on Friday Walmart.com shaved a penny off that price and was selling titles such as Sarah Palin's "Going Rogue: An American Life" for $8.99 each -- discounts of nearly 60 percent or more off the cover price
Now Sears.com has jumped in with an amazing offer. They promise to give everyone who bought one of the qualified discounted books at Walmart.com, Amazon.com or Target.com a $9 Sears.com credit. Qualified discounted books purchased at Sears.com will also be given the $9 credit.
"The $9 credit can be used at Sears.com on the purchase of any items so it's like getting the books for free," said Imran Jooma, senior vice president for Online at Sears Holdings. "We believe this program will benefit the thousands of customers who buy books every day by putting more money into their pockets."
Sears.com is simple and easy to use. The Web site offers the option to create a helpful profile that allows customers to keep track of their purchases, lists and addresses. Creating a profile makes returning to shop at Sears.com easy and worry free, particularly with the holidays right around the corner.
You can read the Sears.com offer here. The site also lists the ten books the $9 offer credit is good for. Customers who have already purchased the books from Amazon.com, Target or Wal-Mart need a copy of their receipt to get a Sears.com credit. For example, if you purchased Stephen King's new hardcover Under the Dome at Amazon.com, Wal-Mart or Target then you can email your receipt to Sears.com and they will give a $9 Sears.com credit.
