XSellco Price Manager has highlighted the dramatic growth that they’re seeing from Jet.com, the new ecommerce kid on the block with a recent blog post.
As we reported last week, Jet.com is expected to exceed $1bn in sales in May. This is in no small part due to their huge growth in customer numbers: they have 3.6 million buyers.
They started in July 2015 with 100k pre-selected buyers. But having ditched the subscription model, they seem to be going great guns.
For perspective, Amazon’s active customer base grew by 12.6% and eBay acquired 5.2% more buyers in the same period.
And XSellco notes in the blog post: “Jet’s totally revolutionary algorithm targets items with discounts available, based on the seller’s location and the shipping cost. The more items you buy, the greater the savings. That’s driving larger baskets and giving Jet customers a damn good reason to return. Jet’s repeat buyer rate is 23%, way better than both eBay (17%) and Amazon (11%).”
The blog post also goes on to look at growth rates from other marketplaces, but Jet is clearly outpacing them all.
The question remains: will Jet.com be branching out from the US any time soon? And we don’t have an answer to that yet. Watch this space.
