Monday, December 15, 2014

The Great Amazon 1p Giveaway

The dangers of relying on software and algorithms was brought home on Friday when a software error on Friday has led to hundreds of items being sold for just 1p on Amazon, and now businesses say they risk going bankrupt if they are forced to follow through with the sales.

The glitch occurred between 7pm and 8pm on Friday, and affected firms that use the tool RepricerExpress.

RepricerExpress software automatically reprices items of stock if a cheaper version becomes available elsewhere online and is designed to keep businesses competitive.

A Facebook group for those traders who last money from this has been set up.

Traders both online sellers and those who deal with billions of dollars of share trades etc should take heed from this!

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