Amazon.com, Inc. (NASDAQ:AMZN) is reducing the price of products sold by third party sellers to increase sales for this holiday season. The retailer is offering up to a 9% discount on top of their Black Friday Deals Store where shoppers can purchase affordable items ranging from electronics to toys.
Amazon’s quarterly sales for last month reported a 34% increase to $43.7 billion for the three months ending September, exceeding forecasts of $42.1 billion. The retailer has been focusing more on a high investment and low profit strategy as sales growth followed a 35% jump in expenses. CEO Jeff Bezos started selling shares from November 1 at an average price of under $1,100 each after strong earnings reported an 8% higher stock.