Jet - Savings smart and simple.
Launched in 2015, Jet.com is a new kind of marketplace that reimagines online shopping from the ground up. Founded on three simple values – trust, transparency and fairness – Jet is powered by a smart technology that creates more value for everyone, finding innovative ways to pull costs out of the supply chain and, together with its retailer and brand partners, shares those savings with shoppers.
Jet.com is building the next big marketplace and no other startup has scaled to its size in the same amount of time. A big part of that growth is the availability of more items. They have amassed over 2,300 sellers offering a total of 35 million products, and an impressive 5 million shoppers since their debut. The company is also adding more than 400,000 new shoppers monthly, averaging a staggering 6.9 units per order and maintaining a retention rate of about 33%. Their goal is to reach $20 billion in gross merchandise sales by 2020 and they are confident it is attainable. Other priorities for Jet for the near term will be to continue investing in marketing and advertising for continued brand building and further expanding select categories such as home goods.
Click below to learn more about the fastest growing and most innovative e-commerce companies in the country!
How it Works
How do you differentiate your product/service in a crowded marketplace? Jet believes you make shopping more transparent, more efficient, and at the same time, a little more fun. Their success is in their dynamic pricing model, which works like a real-time trading system, rewarding customers for buying multiple items through decreased shipping costs and thereby decreased customers’ cost. As a Jet shopper, you get real, meaningful savings when you shop —without a Herculean effort.
Still not sure? Watch Kumail Nanjiani, actor/comedian and star of HBO’s Silicon Valley, explain how Jet.com saves money.
Jet offers free 2-day shipping on thousands of everyday essentials without an annual fee. To qualify for free shipping, your order merchandise total before savings and estimated tax needs to be at least $35. Small orders are more expensive to fulfill, so you’ll have to pay a $5.99 shipping charge on orders under $35 - which means that ordering more at once will definitely get you better value.
Jet vs Amazon
Jet asserts that it is winning against Amazon in the important ways. In a company statement, Jet officials asserted, “For those items viewed on Jet, we are more frequently at parity with or below Amazon shipped and sold but the more important point is that our baskets cost less when people shop smarter using our proprietary system.” How much cheaper is Jet? The upstart beat the giant on 73% of overlapping products, according to a Boomerang Commerce study last fall. Jet discounts increase if you buy related items, as the service determines what products can be shipped from the same place, and if you select options like paying by debit card and declining the right to return. Jet is typically around 5% cheaper than Amazon, founder Marc Lore told Recode.
Jet doesn't have as many items as Amazon, nor any user reviews, nor any of those bonus features. It does, however, offer competitive and often cheaper prices on a wide array of popular items, with free two-day shipping on orders over $35 — all without any annual fee.
Jet Anywhere gives you the ability to save more on Jet just by shopping other sites you love. When you shop one of our 700+ Jet Anywhere brands, you get back a percentage of what you spend as JetCash to spend on future Jet orders.
Walmart Acquires Jet
Wal-Mart Stores, Inc. announced they have entered into a definitive agreement for $3.3 Billion for Jet.com in the biggest U.S. E-commerce acquisition ever. Jet is among the fastest growing and most innovative e-commerce companies in the U.S., that will infuse Walmart with fresh ideas and expertise, as well as an attractive brand with proven appeal, especially with Millennials, the first generation of true digital natives. Among other things, Jet has:
- Demonstrated ability to scale with speed, reaching $1 billion in run-rate Gross Merchandise Value (GMV) and offering 12 million SKUs in its first year.
- A growing customer base of urban and millennial customers with more than 400,000 new shoppers added monthly and an average of 25,000 daily processed orders.
- Best-in-class technology that rewards customers in real time with savings on items that are bought and shipped together, thereby reducing the supply-chain and logistics costs often buried in the price of goods.
- A select group of more than 2,400 retailer and brand partners tailored to create an attractive and distinctive assortment for consumers.
Walmart and Jet will maintain distinct brands, with Walmart.com focusing on delivering the company’s Everyday Low Price strategy, while Jet will continue to provide a unique and differentiated customer experience with curated assortment. Walmart and Jet will leverage innovative technology solutions from both companies to develop new offerings to help customers save time and money. Together, Jet.com and Walmart can win the future of retail.
Jet + Walmart
The brand-conscious millennial shoppers who form the core of Jet.com’s customer base might find something unusual on the site this month: stodgy-yet-reliable store brands from Jet’s new owner, Wal-Mart Stores Inc. Jet.com has started offering Wal-Mart’s in-house brands including Great Value, Equate and Sam’s Choice now that the companies’ online order-fulfillment centers have been linked up. The move represents a small but significant step toward integrating last year’s acquisition, part of a push to challenge Amazon in e-commerce.
Walmart.com and Jet.com will continue to operate separate sites and target different customer groups -- Walmart.com for the everyday, price-conscious shopper and Jet for more upscale city dwellers, according to spokesman Dan Toporek. Yet in certain cases, “where there are gaps in the assortment,” Jet.com will offer the Wal-Mart store brands. “Because we’ve linked our fulfillment centers now, you can effectively put any private brand on Jet if it makes sense,” Toporek said.
The development comes as Wal-Mart’s U.S. online revenue rose by double digits for the third straight quarter, helping results over the holiday period beat analysts’ estimates. The online unit’s so-called gross merchandise value, which includes sales made by third parties on its Marketplace site, increased 36 percent in the period ended January 31, 2016.
JetCash is a reward incentive available to Jet shoppers. JetCash can be used as a payment method on orders placed at Jet. One dollar of JetCash is equivalent to one dollar off a purchase at Jet.
Jet’s social good program, which leverages Jet’s mission to find innovative ways to save to help those in need.
- JetCares Program: Also known as the Community Diaper Program, provides consistently available, high quality diapers at highly affordable prices to nonprofit organizations serving families in need.
- Why Diapers: Forced to buy diapers in costly small pack sizes at local stores, and unable to use food stamps to pay for them, 1 in 3 American families lack sufficient access to diapers. This can lead to serious health risks for babies.
- Give a Pack Program: Allows Jet customers to support enrolled nonprofit organizations by making donations to them in the form of JetCash. These donations can be used by nonprofits to purchase JetCares items, like economy packs of diapers. Through the JetCares Community Diaper Program, enrolled nonprofit organizations already receive special discounted pricing on these diapers and some other basic essentials, so this program enables customers to get involved and donate funds.
Click below to watch a brief video from JetCares.