Kindle has decided to turn to the daily deal approach when reviving aged book titles. Their latest attempt involved the e-book Gone, Baby, Gone by Dennis Lehane. The book, which was originally published in 1998, sold around 20 copies last Sunday – but when Kindle posted a flash sales discount on Amazon.com – the book sold 13,071 copies in 24 hours.
The book had been designated a Kindle Daily Deal on Amazon.com, and hundreds of thousands of readers received an email notifying them of a 24-hour price cut, from $6.99 to $1.99. The quick bargain instantly grabbed the attention of thousands of bookworms.
Flash sales is a concept made popular by the designer fashion site Gilt.com. Flash Sales is used by both buyers and sellers as the easiest way to get rid of stocks. Flash sales are a time-limited offer of high discounts. The system is a win-win for both retailers and consumers: retailers can build brand loyalty and at the same time, well, sell surplus stock within a short span of time.
“It’s the Groupon of books,” said Dominique Raccah, publisher of Sourcebooks.“For the consumer, it’s new; it’s interesting. It’s a deal, and there isn’t much risk.”