When shopping on Amazon, resisting the urge to click the 'Add to Cart' button immediately may lead to finding a better price with a little extra effort.
A study by Northeastern University, which tracked prices on over a thousand best-selling Amazon products, suggests that buyers can often find lower prices by exploring other sellers on the platform.
The study found that Amazon's algorithm determines which seller appears at the top of the product page, taking into account factors such as price, customer reviews, and whether the product is 'fulfilled by Amazon'.
To compare prices, users can find the 'Other Sellers on Amazon' box on the product page and click on the link to view other sellers' prices.
According to study coauthor Christo Wilson, Ph.D., this simple trick could save buyers $20 to $60 on more expensive items like cell phones or TVs, and even small savings of $3 can add up over time.
However, buyers should also consider the seller's rating before making a purchase, as the hidden seller may have fewer reviews.
The researchers also found that Amazon prices fluctuate over time due to the algorithm, similar to plane ticket prices.
Using tools like CamelCamelCamel, a free website that tracks Amazon product price changes, can help buyers make informed decisions and potentially save money by waiting for a lower price.
