JET.com is thinking “outside of the box” to attract new merchants and customers to its website.
Retailer apps (like JET) are able to display products and advertisements inside of Ibotta. If the consumer makes a purchase, or signs up as a merchant, Ibotta will give the customer cash back. The Ibotta app has grown quite popular, with over 18 million app downloads. This is a great opportunity for JET to gain more customers as they try to compete with Amazon.com. The hope is that Ibotta app users that typically use Amazon.com will give JET.com an honest look, and perhaps be surprised by their product offerings.
How does this work?
If the customer purchases something after connecting through Ibotta, the JET will pay Ibotta a commission, such as 5% for that referral. 5% was used as an example, but actually varies by retailer. Since inception Ibotta has given back $110 million in cash rebates back to shoppers, which is why Ibotta has become so popular among online mobile shoppers.
Why is this good for Merchants on JET?
For merchants selling on JET, this is a good deal, because JET is paying the commission, and growing their customer base, and the merchant is receiving more views on their product. Ultimately, it is a win-win for the merchant, because he or she still receives the same price for their product. JET has adopted a great strategy to stay relevant and attract more customers for merchants at the same time.
