A software error resulted in a sizable amount of products on Amazon's British version to sell for 1 cent, which in turn meant that a lot of British retailers lost plenty of money.
"20,000 pounds lost overnight"
The Repricer Express software was to blame, as an error meant that a lot of products were suddenly priced at 1 cent for an entire hour. The software is designed to automatically make sure that external Amazon sellers offer the lowest price at all times, but the software took that guideline a bit too seriously for a short while.
Not only were products discounted to 1 cent, butt Amazon also kept its share of the price, which meant sellers had to pay more than they actually received from the sale.
One of the sellers said there is a likely chance she will have to close her store. "I have lost about £20,000 overnight. Having asked Amazon to cancel the orders they are still sending them out and charging me horrendous fees", Judith Blackford told Sky News.
Amazon says it has managed to halt most of the sales and that it will do everything within its power to help sellers deal with the sales that did get through.