If you really come to think of it, there are very few e-commerce marketplaces that can compete with Amazon as far as offering an unending array of products in attractively low prices is concerned. Taking a closer look, Amazon does not also have too many competitors who can challenge its’ top position in the world of eCommerce.
However, Jet.com has managed to brain its way through the standards set by this leading e-commerce marketplace and has come out with a strategy that can overtake Amazon by the following few seasons. Spearheaded by Mark Lore, the founder of diapers.com and soaps.com, one can only expect the stratagem to cause revolutionary changes in the present success ladder.
The aim of Jet.com is to offer products at far lower prices than Amazon and their approach to achieve this goal is to lower the membership fees of the seller to 50$ per year putting it in sharp contrast with merchants selling on Amazon paying 99$. This in the long run may inspire further rebates in the part of the seller to the end customer, which is expected to be anywhere from 10% to 15% lesser than the costs offered in Amazon.
Revolutionary as this may sound, Jet.com requires funding to achieve this herculean goal. The current raising $140 million in fresh investments is aimed in this very direction. From uncompromised marketing to supporting and expanding operations, CEO Mark Lore has also envisioned constructing a never-before trading system for consumer products. In addition with the $90 million which it had previously gathered from investors like Google Ventures, Goldman Sachs & Co. and Norwest Venture Partners, Jet.com is presently the most valued e-commerce startups of this century.
However, what matters more is ‘staying’ the most valued e-commerce venture. Competing with Amazon will not be easy and the membership structure does not look all too supportive of the end expected result at this very moment. Nevertheless, the whopping half billion dollar budget for implementing marketing and associated plans, Jet.com may just end up surprising those who have presently seem settled with the status quo.
ChannelSale now integrates with Jet.com marketplace. Merchants with pre-approved accounts with this marketplace can sign-up to the marketplace plan and have their product listings automated and their inventory synchronized on Jet.com. Feel free to email email@example.com or contact us on +1 866 709 9495