Calling Hoboken NJ Home: Jet.com shopping club sets up shop
Leasing 40,000 square feet of office space over at the new Pearson Education building downtown is Jet (or Jet.com).
Jet is a “wholesale” shopping club (with annual fee), which is claiming it will revolutionize how people buy things. And with over $80 million already invested in this “startup,” the buzz is certainly growing. And they’re not even open for business yet. (But you can get a free six month membership here if you’re interested.)
Jet’s founder is Marc Lore – who has done well for himself in the “e-commerce”
bubble arena. He owned Diapers.com, Soap.com and Wag.com – which were all sold to Amazon for half a billion dollars back in 2010.
But now Jet.com is looking to take on Amazon directly. But will that work?
What the heck is Jet – and why would I use it?
Jet is being somewhat vague about how they will make “buying something” that much different than you’re already used to:
“We will make use of the latest advancements in technology to create a new shopping experience that will empower customers like never before. Jet will bring unprecedented transparency and efficiencies to the overall e-commerce market, and as a result, will transform the customer experience in a way that, until now, has not been possible.”
If you cut through the buzz-words and big promises – Jet feels they will be the cheapest place to buy anything online.
How will Jet be cheaper than anyone else?
Well, for one – Jet is going to be sort of like the online version of Costco or BJ’s. An annual membership model – but super cheap prices. And they claim that you’ll save a whopping $150 per year if you do most of your shopping on Jet.
Jet said they can pass even more savings on to customers in different ways:
- Quantity discounts. The more you buy, the less you’ll pay for each item.
- Opt-in marketing discounts. If you don’t mind spam from time to time, you can save some more by giving your email address to vendors.
- Final sale. If you know for sure you won’t return something – get a few more pennies off the price.
- Economy shipping. If you spend over $35 and don’t mind waiting a week, you’ll get free shipping.
Not revolutionary by any means – but if they can find the ideal combination of logistics and efficiency, the idea of saving money – no matter how little – could lure people in.
And the “hype meter” seems to be off the charts as they build anticipation in the business world. We’ll see!
Sign up for the free six month membership and give them a whirl once they go live!
Description: Online Shopping Startup Jet.com
Address: 225 River Street, Hoboken, NJ 07030
Online: jet.com – Twitter – Facebook