And in hindsight - I see how Amazon does benefit. Not sure I would say more than consumers. I think both Amazon and customers are getting a nice "windfall." Customers had already spent that money - so this is "free" money coming back to them. Amazon benefits by any purchases that exceed the credit. Since Amazon sells many books below cost, it's not like they are making a ton off of the credits. Especially since these credits are for books only. The publishers are actually making out decently because of increased sales.
The difference is that customers are getting money they were owed. And many of them won't claim it.
Amazon is getting additional money on top of the profits that they earned during agency pricing. They basically get paid twice.
For the best sellers in question, instead of losing $2.50, Amazon made 30% ($4-$5), and now they get the refund money from the publishers and the additional sales generated as a byproduct of customers spending more than their refund amount.
Pretty good deal considering they weren't a part of the lawsuit.
Now - interestingly enough - these credits expire 1 year from now. So does Amazon keep the money that was given to them? Are they only able to collect on credits that were spent. I would think that via auditing, Amazon is only going to receive a check from the publishers equal to the credit that was spent.
Good question.