How Jet is slowly becoming Amazon’s Biggest RivalChris
Pretty much anyone that is invested in ecommerce is aware of Marc Lore and his accomplishments. Once he sold Quidsi to Amazon, there wasn’t much news on him as he had now been working for Amazon. He then decided to leave Amazon and come up with its soon-to-be rival, Jet.com. Jet is growing at an alarming rate in the ecommerce market and doesn’t seem to be slowing down anytime soon.
Marc had one vision with Jet and that was with the likes of benefitting the consumer and seller even more. Its key feature includes the ability of customers to buy products at lower costs due to their revolutionary algorithmic pricing logic. They also offer free shipping for orders over $35 and who doesn’t like free shipping.
The future is bright for Marc as it is expected that by 2020 Jet.com will have 15 million paying members with $20 billion in sales per year. Although operating margins are expected to be negative for at least five years, Jet.com has a lot to look forward to. Amazon may not see Jet as a huge competitor as of now, but in a few years they need to be weary of the great success to come. Amazon will no longer be the top dog in ecommerce as long as the underdog of Jet continues to improve and pull in more customers.