Craigslist household appliances: Latest deal for home-improvement giant drops a new price
NEW YORK — Craigslist is lowering the price of a new appliance it is selling on the platform by $1, while also announcing that it will start selling appliances from companies it says are less expensive than the ones it already sells.
Craigs list of popular appliances dropped to $99 from $199, and its stock now trades for $99.99 from its $199.99 starting price.
Craigslist’s move comes as other major online retail companies are also moving to lower their prices to compete with Amazon and eBay.
Amazon, for example, is lowering its prices for its popular Kindle Fire tablet to $129.99, and Apple has announced it will raise the price for its new iPad.
And eBay is lowering prices for several popular items to make it easier for consumers to resell items at lower prices.
The new prices were announced Friday in the company’s earnings report.
It said its appliance sales fell 3.7 percent in its second quarter, and revenue dropped by nearly $2 billion.
But the company said it plans to raise prices again in the coming months, to $199 per unit.
“We’ve seen this trend over the past several quarters, and the trend continues this year,” Craig Johnson, vice president of marketing for appliance brands at eBay, said in a statement.
We are focused on building a robust marketplace for the next several years and believe that the most cost-effective way to serve our growing marketplace customers is to increase the supply of quality, low-cost products.
“Craigslist said the new prices are for the new models and are not new.
In a statement, the company also said that the new price for the Echo speaker, which is on sale for $169, is “the lowest ever for an appliance.”
It added that it plans “to continue to work with retailers to develop the best-in-class solutions for our members to make them more efficient and more affordable.”