Amazon.com's biggest rival is going live online on Tuesday. Jet.com will officially start its online business selling everything from books to groceries while attempting to beat Costco for its affordability.
With your U.S. based zip code, shoppers can register and try shopping at Jet.com for a free three-month trial period, after which a $49.99 annual membership fee would be charged, according to Time Magazine.
Part of the perks of the Jet.com membership would be free shipping if orders reach the minimum worth of purchases ($35) and the returns a free of would be free of shipping charges. However, the latest online shopping site offers more discounts to customers if you waive the free returns on purchases, the shopping site added.
Jet.com's founder Marc Lore, who sold a start-up firm called Quidsi to Amazon for $550 million and even worked for Amazon's Jeff Bezos, believes he found the right formula for online shopping that works for the consumer.
Lore told the New York Post that the proper execution is the key to how the online buying start-up would work. Lore was able to raise $225 million to form Jet.com and is enthusiastic about the employee, investor and supplier synergies that they have started within the company.
He said updates on the company's financials - whether good or bad - would be put online for the public to see. Trying to eliminate the costly online supply stops that hamper on-time delivery and higher sales of most companies, Jet.com aims to make $2 billion in sales by 2020.
