You know how when you shop on Amazon there is a price and a then a “list price” which is usually much higher?
The effect is that you feel like you’re getting a big discount shopping on Amazon.
It turns out Amazon might be publishing list prices that are too high.
Mouse Print first noticed the problem with an array of general consumer products such as Kraft’s Mac & Cheese and a 100-count box of Splenda.
As if this afternoon, most of these prices have been fixed, except for a ton of pet food items.
Take for example the dog treats you see above. The retail value of one Merrick Flossies is approximately $4, making a 50-count supply valued at no more than $200. Yet Amazon claims the list price stands at a whopping $422.89, more than doubled what it should cost.
We tried to contact Amazon for comments, but did not receive a response.
The incident reminds us of last year when Amazon listed a seemingly normal book about flies for $23,698,655.93. Biologist Michael Eisen blogged about the unrealistic selling price, and documented how Amazon’s price for the book The Making of a Fly constantly went up day after another.
Here’s what happened: A professor required this book for a class and students naturally flocked to Amazon to purchase the text. Eventually, only two sellers still had the product available.
Because the book quickly became an exclusive, hot ticket item, Amazon’s algorithm for retailers to competitively price their product catapulted the retail value to more than $23 million.
We’re not sure if this is the same situation with the pet food offerings on the site, but it seems hard to believe the world is running out of doggie treats.
Deli Cat Dry Cat Food
Ok, we know having pets can be expensive but you can’t fool us, Amazon.
Higgins Celestial Blend Bird Food
Who can resist 89 percent off retail list price? Only ten left in stock!
Redbarn Filled Bone – Peanut Butter
Dog foods are getting so fancy these days, but at $6.70, the bone’s a steal.
According to the Chicago Booth/Kellogg School Financial Trust Index (h/t WSJ’s Sudeep Reddy), only 23% of Americans trust the financial system. And 62% are either “angry” or very “angry” about the state of the economy.
Trust in the financial system hasn’t been this low and anger in the economic situation hasn’t been this high since March 2009. And March 2009 was when the S&P 500 hit that horrific low of 666.
“In an election year, this certainly indicates the importance of the economy to the political agenda,” wrote Paolo Sapienza. Sapienza co-authored the index with Professor Luigi Zingales.
Then again, March 2009 turned out to be an amazing time to buy stocks.
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The lower bonus situation on Wall Street isn’t just for the bankers, but for the companies that service the bankers as well.
Since Bloomberg LP failed to meet its quota for selling its famous terminals, everyone at the financial media giant will receive lower bonus payouts, the New York Post reported citing an internal memo.
That means your favorite Bloomberg News reporters and Bloomberg TV anchors will take home a lower paycheck, according to the report.
If you’re not already familiar with the Bloomberg terminal, it’s basically a computer that’s targeted toward financial professionals so they can message other users, obtain real-time market data, news and stock quotes among many other functions.
They’re really awesome.
According to the Post, there are currently 310,000 terminals that are being used worldwide. However, the company only added 13,672 in 2011, which was short of its internal sales goal of 15,000.
So if they sold 1,328 more they wouldn’t be having this lower payout problem. Of course, it’s not exactly the best environment out there on Wall Street.
On a side note, revenue at Bloomberg climbed $720 million, or 10.5%, to $7.59 billion, the Post reported.
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People who blast the Fed for creating raging inflation or what not don’t know what they’re talking about.
Doug Short put together this fantastic chart of inflation going all the way back to 1872.
It couldn’t be more obvious: Inflation just isn’t that big of a deal either in numerical terms, or from any historical perspective.
Policymakers have gotten excellent at keeping things tame, both on the upside and on the downside.
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- Miserable Times In The UK, As Inflation Surges Way Beyond Forecast
- CHART OF THE DAY: New Poll Says The Jobs Situation Has Improved Significantly In October
Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.
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