Jet.com’s Growth Rate virtually 280 times Faster than Amazon’sChris
Over the past year there have been many people that have underestimated the benefits Jet.com brings to the table and it’s ability to compete with Amazon and eBay. Jet is laughing at the doubters now as their customer numbers are now at an all-time high of 3.6 million. That number may not seem too high compared to the customers using Amazon and eBay, but the biggest difference is the fact that they managed to achieve this number in only on year. Jet’s customer base is growing at a rate that is a whopping 278 times faster than Amazon’s growth rate!
Having started in July of 2015 with only 100,000 invite-only trial customers, Jet.com has grown exponentially and doesn’t seem to be stopping anytime soon. What’s frightening for Amazon and eBay is the fact that their customer growth was only 12.6% and 5.2% respectively. Going by the numbers, Jet.com had customer growth of 3,502%! That is virtually unheard of for a business within its first year of launching.
Jet differentiates itself from Amazon and eBay with a revolutionary discounting system based off of algorithms. This innovative idea has led them to great success and has resulted in many customers returning. In fact, Jet has a repeat buyer rate of 23%, while eBay (17%) and Amazon (11%) failed to reach 20%. They have made such a huge impact in the e-commerce industry and it’s interesting to see what they’ll do in just their second year of operation.