As Walmart attempts to catch-up to Amazon's e-commerce domination, this morning they announced they will purchase Jet.com for $3.3B. For the uninitiated, Jet is pretty damn similar to Amazon-- they're both expansive e-commerce platforms. Jet has a unique pricing strategy however, which may explain part of the reason why Walmart was willing to pay so much:
Add items with the [pink price] tag once you have an item in your cart. They’ll lower the price of items in your cart when you add them — so getting something like toothpaste will save you money on everything from cereal to paper towels.
Combined with Walmart's massive scale, this could be a solid opportunity to consistently beat Amazon on price and speed. Jet also has some other interesting payment options, like giving you a 1.5% discount if you pay by debit.
So, was this an ill-advised attempt by Walmart to keep current, or might this end up being a well-priced acquisition that secures their spot as #2 in e-commerce?
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