Jet.com

Jet.com is an e-commerce platform which has been established in the year 2014 by Marc Lore. The headquarters is based in Hoboken, New Jersey, United States. The firm was acquired by Walmart 2 years ago.

The online retailer offers around 140 SKUs under the following categories:

• Household
• Baby
• Grocery
• Beverages

The firm is planning to target wealthy millennials based in New york. The firm will use the fulfillment center in the Bronx which is going to open in 2018. Jet made a major rebranding move which is an effort to rehumanize e-commerce, consumers in New York.   

It is interesting to know that Jet.com is growing about 280 times faster than Amazon as its customers counts to 3.6 million in less than a year.

The company’s strategy is a combination of bulk buying discounts and smart cart shipping options which has attracted US shoppers as they are keen to load up on everything from toilet paper and toothpaste to Lego and laptops. One year after the launch, the sales are expected to top $1 billion. Jet chooses items with discounts available based on the seller’s location and the shipping cost. The more products customers buy, the more they save money therefore this is a perfect reason for customers to return.

It is noteworthy that the company’s buyer rate is the highest which is 23% as compared to eBay (17%) and Amazon (11%).

In fact, the objective of the company is to launch its fresh and frozen private label range and double its SKUs for the next two years.