Jet.com Debuts as Amazon Alternative
July 22, 2015,
HOBOKEN, N.J.-Jet.com, a members-only shopping club, has launched and is positioning itself as a direct competitor with Amazon.com.
The site offers millions of items in sizes from small to bulk and uses a pricing algorithm to find savings for its members in real time. Members pay $49.99 a year, with the at-launch offering of a free trial membership for a limited time.
The Jet.com pricing platform “is engineered more like a financial trading system than a traditional e-commerce marketplace,” said Marc Lore, Jet.com’s founder and CEO. “Because Jet’s business model is only profit from membership fees, not from the products we sell, cost savings are passed back to the customer.”
According to a Jet.com spokeswoman, the site has experienced almost 1 million visits since its launch, and has received 800 new merchant applications to the platform. Membership statistics were not available.