Will Jet Crash & Burn?
The much-hyped new shopping site Jet, which is officially launching today (after months of anticipation), is clearly very, very serious about its promise to offer shoppers the lowest prices.
The Costco-esque, membership-based site will be comparing its prices with that of Amazon on each and every one of its product pages. While it's too early to tell if Jet will crash and burn or soar from the get go, one thing is certain - merchants (those serving online and offline audiences) are on the lookout for new channels through which they can sell their products.
While Amazon has the lowest price on many products, that's not always the case. In those instances when Jet pries are higher, the company will discount the product below the lowest price found elsewhere on the Web. The other factor here is that the Amazon prices shown by Jet won't tally up the shipping fees (that's important consider many regular Amazon customers are Prime users and don't pay for shipping). Jet, on the other hand, charges $4.99 for orders under $35.
Should Jet soar, retailers/advertisers are going to want to get involved and there is already some activity in this regard. E-commerce solution ChannelAdvisor has announced that its customers have already started selling on the new Jet platform.
“Many retailers and manufacturers took advantage of our early integration with Jet, and they’re excited to see the new marketplace come to life,” said David Spitz, ChannelAdvisor CEO. “Our feed-management capabilities allow our customers to manage multiple marketplaces using one platform, so they can execute a comprehensive e-commerce strategy.”