10 Things You Need to Know About the Recently Launched Amazon Competitor, Jet.com
Geege Schuman stashed this in Alibaba
To save this post, select a stash from drop-down menu or type in a new one:
Competing with Amazon and Costco; funded by Alibaba:
- Marketed as having a “nifty price tool” that discovers the “best prices off the web”, Jet.com markets itself as an online warehouse that typically saves customers “10 to 15″ percent from all other available online prices.
- Small items and large items alike are among the 10 million plus items available on Jet.com, as are bulk based items and singular products, as well.
- Jet.com orders items in bulk from other online companies, allowing them to reduce their retail price on their own website.
- Beyond buying on Jet.com, customers of Jet.com are encouraged to “Jet Anywhere” and shop on other sites that include Macy's and the Gap as part of an affiliate program they have with these merchants.
- Chinese mega-company Alibaba.com reportedly invested in Jet.com – aiming to challenge Amazon in their online popularity among consumers.
- Returns are available for free within 30 days of purchase on Jet.com, with Jet.com adding additional savings to final purchases if customers waive this option.
- Jet.com offers something called “smart card” items that automatically unlocks additional savings when added to customer shopping carts.
- Funding received for Jet.com has totaled $225 million, with 17 total investors involved according to Crunchbase.com.
- The founder of Jet.com is Marc Lore, an eCommerce veteran who previously was the co-founder, chairman and CEO of Quidsi, the parent company of Diapers.com and Soap.com.
- The annual membership of Jet.com is $49.99 – which is about a $5 savings from Costco’s “gold star” membership rate and about $50 less than Amazon’s Prime membership – and is currently being offered for free for a 90 day trial.