Competitor Monitoring: Amazon Launches Virtual Currency To Entice Kindle Fire App Developers

Amazon has launched Amazon Coins, its new virtual currency, with the aim of encouraging more shoppers to spend on applications and games on its eCommerce site. Developers will then receive 70 per cent of the currency spent when Amazon converts it into dollars.

The etailer said it would give shoppers “tens of millions of dollars” of Amazon Coins to spend on applications and games. The new scheme will be available to US customers from May. Amazon Coins can only be spent on apps and games that are available on its Kindle Fire tablet.

The company hopes to grow market share at the expense of its competitors in this field: Apple’s App Store and Google Play. Amazon has more than 200 million active customers; Apple’s iTunes service – including the App Store – has more than 400 million. “Now we have another new way to help developers reach even more of our millions of customers,” said Paul Ryder, vice president of apps and games at Amazon.

© 2013 Profitero

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Pricing intelligence company Profitero provides retailers with actionable price intelligence data, monitoring over 50 million products across 4,000 eCommerce retailers every day, observing pricing, promotions and stock availability. We work with the world's leading retailers, enabling them to acquire new customers and grow profit margins by monitoring and responding to changes in competitor pricing and promotional activity as they happen. For more information on Profitero price intelligence and competitor monitoring, visit www.profitero.com or email sales@profitero.com

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