Computer glitch sees Amazon sell many products for a penny

Derry-based company RepricerExpress - which has apologised for the error - automatically adjusts the cost of items to make them cheaper than others.

"Glitches can happen in e-commerce just as they can in any business, and it was probably found out very quickly and resolved, " said retail expert Dan Wagner.

"But in that small window, the lucky consumers who went online and bought some expensive products really have the right to keep them."

Reporter Katie Spencer says it could spell disaster for some retailers.

"Generally, [it was the] companies that keep the stock themselves that seem to have spotted this, and in those cases it should be OK, because they can cancel those orders," she said.

"But it's companies that store the stock with Amazon that are most vulnerable, because if they haven't picked up that everything was reduced to a penny then those orders will have been shipped out."

Some firms say they risk going bankrupt following the error, with one retailer saying the error has cost her tens of thousands of pounds.

UPDATE: Amazon says it has cancelled most orders placed on items accidentally sold for as little as a penny on Friday night.

The online retailer also insisted that it will "reach out" to any third-party sellers affected by the computer glitch which caused the problem.

"We are aware that a number of Marketplace sellers listed incorrect prices for a short period of time as a result of the third party software they use to price their items on Amazon.co.uk," sais a spokesperson.

"We responded quickly and were able to cancel the vast majority of orders placed on these affected items immediately and no costs or fees will be incurred by sellers for these cancelled orders.

"We are now reviewing the small number of orders that were processed and will be reaching out to any affected sellers directly."