Hardware Retailing The Industry's Source for Insights and Information
With Black Friday about a week away, retailers are pulling out all the stops with their pricing strategies. The company 360pi, which analyzes product and pricing data, recently examined the pricing numbers for power tools at Amazon, Home Depot and Lowe’s.
According to 360pi’s report, “Amazon had 79 percent lowest-priced products for the first half of November 2014 in this sample of power tools. Home Depot had the lowest available price 48 percent of the time.”
In regard to when the companies change their prices, Amazon makes the most power tool price changes on Mondays, Home Depot makes changes on Wednesdays and Lowe’s makes these changes on both Mondays and Fridays.
Overall, Amazon has become more price dynamic throughout the year, Home Depot has become less price dynamic and Lowe’s has remained unchanged.
To see the full report, click here.
