Benefit From Dynamic Pricing Feature Of Jet Shopify Integration App !
The Skyrocketing rise of Jet.com is attributed to its offering 10-15% less prices than its competitor. This has set the ball rolling in the favor of Jet.com and, now, 400,000 customers are joining the popular website every month and over 12 million products are enlisted on the website.
How Jet offers Lower Prices?
The Jet.com benefits both sellers and customers. For customers, it offers a discount by encouraging consumers to build bigger baskets and waiving of return fee among other measures. And going by the growth it has struck a chord with shoppers. 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�.
Though Jet.com is the most effective marketplace as it doesn’t charge any sign-up, monthly fee, or product listing fee, it takes 12-15% commission on sales. However, the commission that Jet.com charges is distributed to its customers in form of Jet Savings. And more importantly, for the retailers’ convenience, the Jet.com gives retailers/sellers the flexibility of altering the prices of their products listed on Jet.com from their stores. Exciting as it gets!
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 3 ways: 1. Increase fixed price for all the products 2. Increase price in %age for all products 3. Increase price for Individual prices using CSV file
Increasing fixed prices for all products adds the additional amount and reflects it on Jet.com and Increase Price in % age for all products adds the additional amount by percentage. However, it is the third option that enables user not to only increase but decrease as well for individual products.
WHY DECREASE PRICES?
For this question as well Marc Lore provides an insightful answer, he adds “Shipping one 5-pound item across the country costs $11.70, but shipping a 25-pound box (of five 5-pound items) to within 150 miles of the warehouse only costs $11.66. If the retail price of the 5-pound item is $15.00, then shipping is 78% of revenue — but if the retail price of the items in the 25-pound box is $75.00 in total, then shipping is only 15.5% of revenue”.
So retailers living in the proximity of the order being placed can take advantage of the situation and can share shipping savings with their customers that also enables them to reduce prices and win more customers. Also, in-house pickup and sharing of customers email further facilitate more discount.
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.