ChannelAdvisor has reported that jet.com is already the number 4 marketplace for its merchants in terms of GMV in only 4 weeks of trading.
David Spitz, ChanneleAdvisor CEO said in a blog post: “Jet has gained altitude so rapidly that it’s currently our number 4 marketplace by GMV, out of the marketplaces we support worldwide. That means that just a month after its public debut, it’s already bigger for ChannelAdvisor than incumbents like Sears, Best Buy, Newegg, Tesco and Rakuten — marketplaces that have been operating for years.”
Jet has divided opinion. Founded by Marc Lore the business model is complex. Buyers pay an annual subscription to use the marketplace and the price depends on what, how much and where you are. So it could be that a purchase is cheaper if you’re nearer the seller, buying in bulk or willing to accept slower despatch. Indeed, Lore has said that the company will only make money on the subscriptions keeping prices low.
Obviosuly Jet isn’t currently a UK option but this immediate growth is fascinating and hopefully UK sellers can plug in to it soon.
