Selling on marketplaces can be a fast, effective way for ecommerce stores to boost sales. Amazon, Alibaba, eBay, and Etsy are a few examples of well-known marketplaces that generate massive online sales around the world. Diversifying the marketplaces where your store is present allows you to target different audiences to gain traffic and visibility. That’s where Jet.com can give you a boost.
Each country is dominated by local e-commerce players: in France, this is Cdiscount; in Brazil, it’s MercadoLivre; in India, Flipkart; and in Russia, Ulmart. Now, the United States has Jet.com, a newcomer with a lofty goal that will help small merchants reach their own sales objectives. Launched in July 2015, Jet.com’s goal is to overtake Amazon and reach over $20 billion in Gross Merchandise Volume by 2020.
According to The Washington Post and TechCrunch, Jet.com became the fourth most popular marketplace in the United States in term of Gross Merchandise Value in August 2015, just a month after its launch. Even better, the company announced $33 million in sales and 1 million customers in November, with 23% identified as repeat customers. With millions of loyal customers already convinced, Jet.com is, in their own word, a “fair marketplace that removes inefficiency and cost resulting in the best value for shoppers with improved margins and greater control over order profitability for retailers.”
So what does this mean for merchants? There’s a new marketplace with an eager audience that is coming back again and again to do its shopping. So it’s a great time to get onboard with Jet.com by integrating the brand new dedicated module developed with help from our Integration Fund program. Built by Common Services, one of our contributors specializing in marketplaces, the Jet.com module enables you to easily export your catalog and run your items on Jet.com, as well as to synchronize your orders with your PrestaShop back-office. If you already sell on Amazon or other marketplaces, then you won’t find any surprises. If you’re new to marketplaces, this module is simple to start using.
Jet.com has many advantages for retailers who choose to sell on its marketplace: free shipping from a certain amount, free returns, as well as a full range of quantity-based discounts. All of which contributes to higher Average Order Volume on the Jet marketplace. Jet.com also offers ways to cut costs thanks to a dynamic pricing engine that works to give the best margin possible.
Jet.com is on its way up and it’s taking merchants with it. There’s a great opportunity to reach a new audience and be one of the first merchants to establish a presence on the marketplaces; stores who have joined are already reporting earning up to 5% of sales from the marketplace. For the moment, PrestaShop is the only ecommerce software provider for SMBs that offers a module for Jet.
So give it a try and let us know what you think!