Who Will Be The Next Jet.com?
Disruptive Technologies Can Come From Anywhere.
Technosium is all about showcasing new technologies that have the potential to disrupt our existing business world. That’s what technology, at it’s heart, is all about: changing our world through the advancement of knowledge.
But for every Google or Facebook, there are thousands of technologies that come and go without ever catching on. What’s the difference between a technology that makes it, and one that doesn’t?
Of course the reasons are numerous, and if someone knew every single factor, they would already be a billionaire. But one example we want to to highlight is Jet.com.
What is Jet.com? You may have heard of it being touted as an ‘Amazon.com killer’, or the company so confident in its prices that it offers Jet.com coupon codes that customers can use on top of their low prices. But how? There’s been a narrative in business this decade that Amazon.com’s unfair advantage has created a world where other retail companies cannot compete. It’s the lowest of the low. Consumer goods can’t get cheaper for their customers. Can they?
Jet.com, according to its website, uses a proprietary algorithm to figure out which shipping facilities in your area have the product you’re looking for, and then calculates which one will be the cheapest to ship to you.
On top of that, you can save more if you order multiple items. So, if you add a second items to your online shopping cart, the algorithm will figure out which shipping facility has both items (since shipping the two items together will save money).
A true sign of an ingenious idea is when you first hear about it, it makes so much sense that you wonder why we don’t have it already.
Now the website is not a spunky upstart (a la Mark Zuckerberg). The company was started by Marc Lore, who originally started Diapers.com back in 2005. Diapers.com, if you remember, was bought out by Amazon.com after Amazon instituted a predatory pricing strategy that undercut Diapers.com: forcing them to sell to Amazon.
Lore didn’t go quietly. Jet.com has over $500 million in venture capital backing it. The references to it as an “Amazon.com killer” isn’t an empty threat: this site wants to out-Amazon Amazon.com.
When you disrupt a ‘disruptor’, you know you’re winning the game.
What does that do for technology? Well, new technology pushes forward technology. Amazon.com was new and cutting edge for a time, but this pricing algorithm that Jet.com uses sounds like something Amazon.com should have started using years ago.
And because of this advancement of technology, goods are about to become even cheaper for regular people. People now have access to goods that they normally wouldn’t.
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Tags : amazon.com disrupting technology | diapers.com | discounts | jet.com | marc lore | mark zuckerberg | pricing strategies