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How To Lose $1.6 Million In Just Six Hours
According to AppScout.com, e-commerce site 6pm.com, a sister site to Zappos.com, accidentally priced all of its products at $49.95 on Friday, costing the company $1.6 million.
“This morning, we made a big mistake in our pricing engine that capped everything on the site at $49.95. The mistake started at midnight and went until around 6:00am pst,” Aaron Magness, director of brand marketing and business development at Zappos, wrote in a blog post.
The mix-up cost the site $1.6 million, Magness wrote. “However, it was our mistake. We will be honoring all purchases that took place on 6pm.com during our mess up,” he said.
Among the consumer electronics available on the site that some lucky shopper possibly snapped up for $50 are GPS devices from TomTom and Magellan that range in price from $300 to $550, as well as pricer GPS systems from Humminbird that range from $1,000 to $1,600.
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Angela Shupe on May 24th, 2010 4:48 pm
Whoever got in there and bought up their stuff before they caught on to the mistake got really lucky! Imagine how much money some of those people could make if they chose to resell some of it unopened.
MelanieCookie on May 25th, 2010 7:57 pm
I really admire them for honoring the purchases. I don’t think many businesses would do that at all especially for the amount of money they will be losing by doing so.
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