Chances are, if you’re shopping this season – or, really, any day of the year – you do some, if not all of it, online. Few industries are bigger than e-commerce, with online sales expected to break $400 billion within three years.
And as the sector grows, new players – and new models – will challenge the longtime leaders. One of those newcomers – one with an incredible amount of momentum behind it – is Jet.
Jet has grabbed lots of headlines since its July launch: Some for its recent new round of funding that put its valuation at the magical $1B mark. Some for its innovative business model, which we’ll get into. But also some attention for a quick retreat off one of the key parts of that business model – its membership fee.
So where does Jet stand? What are they doing right – and, like any new business, what needs to change quickly? And what’s it like competing in a massive and growing space – but one that already includes massive and growing players like Amazon and Wal-Mart?
Liza Landsman is Jet’s Chief Customer Officer.