Jet.com is an attempt to bring the Costco warehouse pricing model to the web. The promise was that in return for a $49.99 annual membership fee, Jet will not make any profit from the products it sells (which will come from its inventory or partner sellers); its sole source of profit would be from membership fees.
Its CEO Marc Lore has a track record of e-commerce success, previously selling his start-up, Diapers.com, to Amazon for $545 million.
Today the online retailer said that it has dropped its $50 annual membership fee, marking a shift in business strategy three months after it opened to the public.
The move comes after the response by customers was stronger than anticipated with “the average number of units per order twice what we expected”, Lore wrote in a blog post announcing the change.
Jet.com also has an ongoing offer that gives you a $10 discount on your first order of $35 plus with promo code TENBUCKSNOW. Shipping is also free for orders over $35, so this should be a nice one time deal for everyday products.
They have good prices, so it should be easy to find something to buy.