retail startup jetcom set for takeoff next week
Last Updated : GMT 00:34:39
Arab Today, arab today
Arab Today, arab today

Retail startup Jet.com set for takeoff next week

Arab Today, arab today

Arab Today, arab today Retail startup Jet.com set for takeoff next week

Jet.com founder Marc Lore
Aspen - AFP

Jet.com, a well-funded US startup which aims to shake up online retailing with new ways to cut prices, is set for launch next week, its chief executive said.

Marc Lore told the Fortune Brainstorm Tech conference Monday the new online site will have at least 10 million products in a variety of categories, but dismissed the notion that it is taking on colossus Amazon.

He said that with the growth in online retail, there is room for "multiple players" but that he sees Jet as an innovator in pricing.

"I felt there was an opportunity to innovate around price," he said. "There were a lot of companies innovating around service."

Jet, which has raised some $200 million in venture funding and has partnerships with more than 1,600 sellers, said the model is based on finding ways to get lower prices when consumers order several items.

Consumers may see prices change while they shop if they order several items that can be delivered more economically than if they were sold separately.

"We make those cost savings transparent," he said in Aspen, Colorado. "We call that smart cart bonuses."

Lore said the company has a goal of reaching $20 billion in revenue by 2020, and will spend $100 million on marketing and advertising in its first year of operation.

Jet uses a membership model, with a $50 annual fee, while promising lower prices over the long term.

"I feel our value proposition is very compelling," Lore said.

Lore was  a founder of online retailer Quidsi -- including diapers.com and soap.com -- which sold to Amazon in 2011 for $545 million.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

retail startup jetcom set for takeoff next week retail startup jetcom set for takeoff next week

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

retail startup jetcom set for takeoff next week retail startup jetcom set for takeoff next week

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today 'Trash islands' off Central America indicate

GMT 20:19 2017 Friday ,24 November

'Trash islands' off Central America indicate
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Solaf happy for participating in “Hotline”

GMT 07:56 2017 Wednesday ,22 November

Solaf happy for participating in “Hotline”
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday