Green Energy Management (fka GRMS)

[dowjones78]

Marc Lore, the former founder of Diapers.com, is finally saying how Jet intends on beating Amazon.com when it opens up shop next month. Jet will be part-Amazon and part-Costco, offering reduced prices to those willing to pay $50 a year for access to the marketplace.

Jet.com anticipates selling just about everything that Amazon does — clothes, books, and electronics, baby goods and athletic gear. But unlike Amazon, which is free for anyone to use, customers will be expected to pay a membership fee after a 90-day trial expires. In return, Jet is claiming to offer prices that are 10 to 15 percent lower than anywhere else.

Jet explains that it can offer lower prices because it only plans to make money on membership fees — it does not take a percentage of any of the sales. The company also said savings will come from making the process more transparent to the consumer, and offering more ways to save money. Such options may include combining multiple orders into a single shipment. Customers will save even more if they are willing to pay with a debit card, which collects fewer transaction fees than a credit card. Items that are found locally will also cost less than those that are shipped across the country.

Jet opens for private testing later this month and now offers free membership for early signup by registering here