Have you heard of Jet.com? If not, that’s okay. Jet.com is a startup based out of Montclair, New Jersey, ready to compete with the biggest of the big in the world of ecommerce and bricks and mortar. With currently 100 employees, Jet.com aims at becoming the “shopping club reinvented” and to gain the customer base from Amazon, EBay, and Costco. For a yearly fee of $49.99, (think Amazon’s prime membership and Costco’s club membership) Jet.com members will have access to a large variety of product categories that are 10-15% less than any of the prices that appear online.
Next, how does Jet.com plan on making money? Just like Costco, an annual membership fee will become their main source of income as they hand over low cost products to customers in which Jet.com will most likely not make any profit from. They also differ from competitors in the ways they help customers save. Besides offering products that are less expensive, Jet promotes bulk shipping that will save customers money if they accumulate a full order of different products, compared to ordering multiple products at different times. Using a bulk method of shipping and enticing customers to use it serves as a win/win, for Jet.com and their customers as well. A low cost leader? Jet.com’s main objective is to offer the best value to their customers, attempting to rival the rest of their e-com competitors. If they plan to defeat Amazon, this approach is one that will work in their favor. Plus, free shipping and returns never hurts.
It seems as if everyone is fighting against the digital world these days,
bricks and mortar vs. e-commerce
print magazine vs. blogs
radio vs. streaming music
It takes an act of bravery and MUCH MUCH strategy to take an existing online business and begin to market via a print magazine. Net-A-Porter is one of the first, if not, the first to have accomplished this goal with much reasoning and determination. The release of their magazine PORTER, is the physical outlet in which their 6 million monthly visitors are able to escape into a world of fashion and inspiration. Check out a great video from The Business of Fashion’s founder Imran Amed with the queen Natalie Massenet of Net-A-Porter discussing the need for print for today’s fashion loving woman.
Fashion and Tech have been meeting up for a while now. You might have seen this collaboration in designer iPhone cases or even just designer phones. Remember the Prada LG phone? This newest collab comes from a MICHAEL Michael Kors “Jet Set Tote for MacBook Pro” made exclusively for Apple. Apple recommends this tote for “your Mac, iPad, and iPhone.” Not sure about buying a tote just for my iPhone/iPad but I digress. My thoughts would be to just buy the regular MK tote for almost $100 off on Macys.com and make your laptop fit. (it will) 2014 continues to be the year of Michael Kors, and people still haven’t stopped wanting more of his designs. Given that Mr. Kors reached Forbes 2014 Billionaire list, I’m sure he has many new ideas up his sleeve.
because I was very confused….
photo via: REUTERS GRAPHICS
Buzzfeed, one of my favorite time killers posted a great video of my podcast crush Ira Glass talking about the challenges of creativity. As creativity may be one of my personal challenges, it’s an interesting way to find optimism in life’s challenges. It’s a great video, check it out!
Most likely you have heard of this national retailer, but most likely their name has disintegrated into lost retail space…..
This past Sunday, RadioShack featured one of the most popular ads of the Superbowl saying bye bye to their old outdated interiors, and hello to their new and improved future selves. It is always wise to admit to your faults, and RadioShack was able to deliver that message to about 11.5 million viewers. Why the change for RadioShack? Fierce competition from the clean, easy to shop, bright light, knowledgeable staffed competition (cough Apple.. cough) has forced RadioShack to really just Go Big, or really just Go Home.
The good outcome from their Superbowl ad was an increase of 7% in their stock the very next day.
The bad? The closure of 500 of RadioShack’s stores this year.