When I was in the process of publishing Ravens Gathering in paperback, I wrote about Amazon’s pricing and discounting. If you’re not sure what discounting means, read the post. The bottom line for me, though, was that, to sell a paperback through Amazon, I have to take a loss. For strategic reasons, I still decided to make it available that way.
As it happens, since launch, there haven’t been many sold through that channel, so the damage has been minor, and I’m sure I’ve picked up e-book sales off the back of it being there. On balance, then, I can’t complain. (Well, not about that anyway!)
I noticed lately that Amazon have been dropping the price of the paperback. The cover price is £8.99, which seems more than fair for a book of such great literary merit… Okay, I may be stretching things with the literary reference there. But I’m told it’s entertaining. And when you consider that a trip to the cinema recently cost me around £25 for two ordinary tickets (no 3D, no 4DX, no IMAX, and no popcorn!), £8.99 to immerse yourself in 496 pages of entertainment seems like a bargain.
Anyway, Amazon dropping the price tells me one thing. They’re fed up of having a copy of the book sitting on their shelves. It’s also interesting to note that this started about 6 weeks ago and, at the same time, they brag that there’s “Only 1 left in stock”, suggesting they’re selling like hot cakes. (They’re not, though that could be down to me not pushing it enough in recent months.) They also follow up this claim with the note: “more on the way”. If they’re right, they must be being transported on the back of a particularly weary sloth, because that note has been there for at least a couple of months.
Can I draw any conclusions from this?
Well, Amazon lie to us as consumers, but that shouldn’t be a surprise, should it? They’re trying to sell their stock, and why not? Most consumers realise they’re being lied to by major corporations, so will decide whether to purchase after taking that into account. And if you don’t realise you’re being lied to… well, wake up!
The paperback of Ravens Gathering isn’t selling well on Amazon, which is why it’s currently priced at £5.32. That means they’re selling it at a 40% discount, so they’re making a small loss on it. To me, that seems fair. I’m making a loss on it, so why shouldn’t they?
Although they started reducing the price weeks ago, it seems to have stalled at £5.32 for over a week now, so I think it’s bottomed out. It’s an opportunity to get a copy for less than half the price of a cinema ticket, so someone might as well get the benefit of it. And, if it sells, Amazon might even kick-start the sloth and get some more stock in. But, if they don’t, I won’t worry about it. I don’t make much money on each individual book sale, but being paid something instead of having to pay someone to read it is still a better option in my eyes.
I think when Amazon reduce the price themselves they’re ones who take any loss so it’s no bad thing for the author. Hopefully the price reduction will last till the sequel comes out and help generate more interest in it ?
You’re right about the pricing, Paul. They’ve already bought the book – which is where the original discount comes in – so any loss I’ll make on the sale has already happened. If they knock the price down further, they start to make a loss, but that’s their problem. If the single solitary copy they have in stock sells at this price, my guess is they’ll restock and push the price back up, but it’ll be interesting to see. Hope all is well with you
Yes, all good thanks, finally writing again. Hope the sequel is shaping up well?
Glad to hear it. The “sequel” isn’t really a sequel, but there is a link. I’ll be in a better position to gauge how it’s shaping up in a week or so. I’m due to start reading through the latest draft in the next few days, before I start the next draft. If things go to plan, you’ll be able to read it for yourself before the end of the year.
This made me have a look at my book on Amazon, Graeme. It’s recently been reformatted and updated and currently is not available as a paperback as I’m waiting for the proof to come so I can check it all before pushing the publish button. A few days ago, Amazon said it was ‘out of stock’ and ‘more due soon.’ Yet, today, that has disappeared and only two ‘used’ copies are now showing for sale. One of the two copies is only priced at £1.70. It makes me feel like I’ve been thrown into the ‘bargain’ basket. Never mind. Hopefully, it won’t be long before they have brand new stock of their own again soon.
It’ll be interesting to see how Amazon’s message changes, Hugh. Are you making many changes to the book?
No, not many. The big change is the formatting to the book, but I took the opportunity to update links, author’s page, ‘about this book’ page, etc.