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John Grisham Enters Price War Debate
As we reported, Walmart (WMT) recently slashed book prices online, slashing the cover price of the top 10 pre-selling titles to $10 apiece--sweetening the deal with free shipping. This move touched off a book discounting war in between Amazon.com (AMZN), Walmart, and finally, Target (TGT). At one point, prices sank below $9 for a new hardcover. Here's more from Grisham (pictured, via), from the article: "[The price] enables me to make a royalty, the publisher to make a profit and the bookstore to make a profit ... If a new book is worth $9, we have seriously devalued that book ... It's a free market--there's no legal case ... I'm not itching to sue Amazon or Wal-Mart...they sell a lot of books. But the future is very uncertain with books." Email This Post |
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