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Jet.com Sheds Its Costco Ethos

June 12, 2017: 12:00 AM EST
E-commerce company Jet.com’s co-founder Marc Lore was inspired by the Costco example. Its original business model was based on membership fees, and on bulk sales savings passed on to the customer. But now that it has been acquired by Walmart, and continues to integrate its operations with the giant retailer, it has begun phasing out the Kirkland Signature brand of products, replacing them with products offered under the Sam’s Club Member’s Mark brand. According to analytics provider 1010data, Jet accounted for 5.5 percent of online sales of the Kirkland brand in the first half of 2016, behind Amazon and Costco.com. [ Image credit: © Walmart  ]
Matthew Boyle, "Jet.com Will Phase Out Costco Products After Wal-Mart Acquisition", Bloomberg , June 12, 2017, © Bloomberg LP
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