Thursday, October 31, 2013

Now Amazon Is Just Giving Money Away

Now Amazon Is Just Giving Money Away

Amazon is really rubbing it in. Notorious for its willingness to lose money to drive ever-increasing sales, the company said Wednesday that it is now giving customers the option to donate 0.5 percent of the price of many purchases to charity through a new project called Amazon Smile.
The process is pretty easy: Customers go to smile.amazon.com and choose a charity.Amazon (AMZN) suggests a few, such as the American Red Cross and the Nature Conservancy. From that point on, the donations are sent automatically. There isn’t a cap on how much money Amazon will send to charities, but the program does exclude digital items such as Kindle books and recurring Subscribe-and-Save purchases or subscription renewals. “Nearly all physical products are eligible,” says a company spokesperson via e-mail.
This cuts into Amazon’s profit margins, of course, or it would if it had them.

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