Amazon.com, Inc. AMZN announced Tuesday the ‘Make an Offer’ feature on its website that “allows customers to negotiate even lower prices on thousands of items,” according to the company’s press release.
The company claimed that is expands “on Amazon’s traditional fixed price model” and that the “new pricing feature allows customers to offer to buy items at even lower prices. If agreed upon, customers can then purchase the items at a savings from the listed price.”
According to Amazon, sellers “enable the ‘Make an Offer’ feature for items to show customers they are willing to negotiate for a lower price than the price listed. When selecting ‘Make an Offer’ on an item’s product detail page, a customer can enter and submit a new price of their choosing.
“The seller will receive the customer’s lower price offer through email, at which point the seller can accept, reject or counter the offer. The seller and customer can continue to negotiate through email until the negotiation is complete.”
Ebay Inc EBAY declined to comment to Benzinga on the news but noted that it has had a “best offer” feature in place since 2005.
Amazon.com, Inc. recently traded at $310.85, up 1.37 percent.
eBay Inc. recently traded at $55.36, up 0.38 percent.
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