A software error on the Amazon website has seen hundreds of items sold for just 1p, potentially costing retailers hundreds of thousands of pounds.

The glitch affected prices between 7pm and 8pm on Friday, and involved firms who use the tool RepricerExpress.

On its website, the software company promises to “auto-optimise” prices on behalf of retailers, allowing them to “sell more and keep listings competitive 24/7 without constant attention”.

The error is thought largely to have affected small, independent companies, who have expressed fears that they could be put out of business if they are made to honour the 1p sales.

Those who noticed the listings on Friday night celebrated spending tiny amounts in exchange for “a few thousand pounds [in] value”. One said: “I just bought an incense holder, don’t even need it.”.. see more

source: Independent UK