Did anybody hear about that Amazon glitch that happened a few days ago which led to the bankruptcy of hundreds of small businesses in the UK? Apparently there's a system where it tries to find the lowest price of any item supplied by a third-party business. A glitch occurred and items usually costing anywhere from ?1.00 to ?400.00 were reduced to a mere 1 pence, which led to thousands of people buying items for 1p. You'd think that even if they had bought these items, they wouldn't be shipped, right? Wrong. When small businesses sign a partnership w/ amazon they're subsequently handing over most of their stock, as amazon stores and ships all products for these businesses. You know what that means, don't you?
here's an article if you're interested
http://www.theguardian.com/money/2014/dec/14/amazon-glitch-prices-penny-repricerexpress
my parents have a small business, and they're pestered by amazon at least twice a week as they would like us/my parents' products to be taken onto the amazon catalogue. It's just lucky that my parents have declined this other, otherwise they could have been one of the people to be left with thousands of pounds of debt.
Apparently Amazon aren't reimbursing any money to some of these businesses..
here's an article if you're interested
http://www.theguardian.com/money/2014/dec/14/amazon-glitch-prices-penny-repricerexpress
my parents have a small business, and they're pestered by amazon at least twice a week as they would like us/my parents' products to be taken onto the amazon catalogue. It's just lucky that my parents have declined this other, otherwise they could have been one of the people to be left with thousands of pounds of debt.
Apparently Amazon aren't reimbursing any money to some of these businesses..