The post is republished due to introduction of REPRICING FEATURE that automatically determines the best selling price for a particular product
The Skyrocketing rise of Jet.com is attributed to its offering 10-15% fewer prices than its competitor. This set the ball rolling in the favor of Jet.com. And now every month 400,000 customers join the popular website, and over 12 million products are enlisted on the website.
How Jet offers Lower Prices?
The Jet.com benefits both sellers and customers. To customers, it offers a discount by encouraging them to build bigger baskets and requesting them to forgo the return fee among other measures. Also, In-house order pickup and email sharing facilitate more discounts.
As per Marc Lore, the CEO of Jet.com “We cut shipping and fulfillment expenses by showing customers how to build larger baskets of products that can come from a single warehouse in close proximity to where they live”.
Moreover, Jet.com doesn’t charge any sign-up, monthly fee, or product listing fee. It takes 12-15% commission on sales. Furthermore, the commission charged is distributed to the buyers in form of Jet Savings.
How To Modify Prices?
And to benefit retailers, the Jet.com permits retailers/sellers to alter the prices of their products listed on Jet.com. To utilize this benefit to the maximum extent the Cedcommerce Jet Shopify Integration App has an exciting feature that enables users to increase the price of their products. And furthermore it can be done 2 ways:
A) Custom Pricing (Manual)
- Increase fixed price for all the products
- Increase price in %age for all products
- Increase price for Individual prices using CSV file
The sellers to raise the amount of the products by the fixed amount with Increase fixed price (Custom Pricing) functionality. Similarly, the fixed %age feature adds the additional amount to price by converting the percentage into the value. However, it is the third option that enables user not to only increase but decrease as well for individual products.
B) Jet Repricing (Automatic)
This the new feature that automates the pricing and saves sellers from the hassle of analyzing the competitors pricing.
This feature automatically calculates the best price for your products on Jet.com. To utilize this feature, you’re required to enter the MINIMUM PRICE that you can afford to sell your product at; the MAXIMUM PRICE that you consider could be its worth and, the BID PRICE – the factor by which you want the prices to be subtracted from or added to your CURRENT product price.
NOTE: You can either choose custom pricing (manual) or Jet Repricing (Annual). But NOT BOTH simultaneously.
Also, Jet.com expects sellers to share the shipping benefits with the customers. This also helps sellers to reduce prices and win more orders.
Therefore, to sell effective, compete dynamically, work smartly, and save more, subscribe Cedcommerce’s Jet Shopify Integration extension that has a plethora of benefits for sellers.