Jet.com, a new online shopping site, launches today with a free 3-month trial and a promise to give members prices cheaper and Amazon- a deal many online shoppers many find too good to pass up.
Consumers are always searching for a good deal and Jet.com says they have the best deals, guaranteeing the lowest prices on over 10 million items.
Whether or not that is actually true remains to be seen, but let’s take a look at how it works.
Anyone can go to the Jet.com website and sign-up to become a member: the first 3-months are free, after that it’s $49.99 a year.
As a member you can save in several ways, from filtering by “smart” (cheaper) items, opting for a different form of payment for added savings, or even agreeing not to return an item in exchange for a discount.
Members can also save when they buy multiple items in a single order, depending on where it’s shipping to.
So how are all these savings possible?
Well, in addition to the $50 yearly membership fee, Co-founder and CEO Marc Lore explains that these savings are a result of: “proprietary technology that works more like a real-time trading system instead of a traditional e-commerce site. This software allows Jet to show customers how to save more right when they’re shopping and filling their basket.”
Lore also said in an interview with Squawk Box that :”There are 90 million households in America that don’t have Prime-[Jet] is going to be the fastest and cheapest shipping option for those households.”
In addition to Amazon Prime, Jet will be in direct competition with services like, Google Shopping Express, eBay Now, Costco and other membership clubs.
So is Jet.com the next big thing? Will it deliver on it’s promise to be cheaper than Amazon and other similar sites?
Check back later this week for my official review and follow all my latest consumer news reports on Twitter!