Jet is a members-only shopping club that gets you the best price on more than 10 million products, every time you shop. If you have not heard about them yet, you will soon.
Although the company has almost zero revenue, it has a strategy that includes under pricing Amazon.com on millions of items.
Jet.com also has one of the highest valuation (possibly $600 Million-$3 Billion)ever in the e-commerce startups before their official launch on July 21st.
FAQ’s about Jet.com
Membership Fee – $49.99 per year. If you act quickly you can get a free 6 month membership before they launch. https://jet.com/
The Lowest Prices on Everything: The company states from lawn chairs to laundry detergent you should save an average of $150/year.
Free Shipping Over $35 and Free Returns
Savings When You Shop Other Retailer Shops From Macys.com to apple.com (pretty gutsy)
Their Word and a Firm Handshake “We’re so sure you’ll save more than our $49.99 membership fee that we’ll refund you the difference between our fee and what you saved if you don’t.”
Here’s what they say:
- Profit-free Pricing It’s not an oxymoron. We only make money on membership fees, not the products we sell. That means we’re free to get you the lowest price possible.
- Scary-Smart Technology We don’t really know how our developers did it, but they came up with this really, really clever pricing engine that finds you the lowest price on any item and calculates your savings in real-time.
- Bonus Savings Alerts We love the thrill of a good deal, so we’ll alert you to thrifty ways to save even more as you build your order. Like buying items that ship from the same location, waiving returns and using a low-fee payment method.
How It Works
The Audaciousness of the Competitor
Part of the appeal to Jet.com is just the plain old audacity to take on something as big as Amazon.com. You have to admire the bravery and chutzpah. Will they succeed? Time will tell. But in the meantime it is another case of more competition helping out you and me the consumer. Finding Homes for You made a bold and different decision over a decade ago. We decided to forge a new course in the real estate world by only working with buyers. We became what’s called Exclusive Buyer Agents. An Exclusive Buyer Agent works for a brokerage that does not take listings. This takes away any conflict of interest in the real estate transaction since an Exclusive Buyer Agent does not and will not work with the Seller. 100% Buyer Representation. So good luck to the David vs Goliath startup Jet.com, we wish you the best!
Interview with Scott Hilton Chief Revenue Officer of Jet.com