Posted by Megalith 1:38 PM (CDT)
Saturday August 06, 2016
Jet.com, otherwise known as that place you ordered from only because there was a coupon, may be bought by the world’s largest brick-and-mortar retailer. The deal would hypothetically bolster Wal-Mart’s disappointing performance in the e-commerce arena.
Jet, barely a year old, has sought to underprice Amazon with a vast marketplace that would require billions of dollars in funding and a plan to rely more on suppliers than warehouse inventory. A part of its growth strategy early on relied on taking orders for products it didn’t sell and placing orders on behalf of its customers on other sites, often selling the items below what it paid while absorbing steep shipping costs. Jet has curtailed the practice. Wal-Mart has scrambled to keep pace with Amazon, which overtook Wal-Mart by market capitalization a year ago and now sports a market value that is 50% larger.