Wal-Mart's Jet Launches First Salvo in War for Holiday ShoppersBy
Autumn is only just beginning, but the holiday price wars are already underway.
Jet.com, the online merchant owned by Wal-Mart Stores Inc., is offering 5 percent cash back on orders made between Sept. 18 and Oct. 29 that can be applied to holiday purchases. Shoppers can earn up to $50 in so-called “JetCash” that can be redeemed on the site beginning Nov. 13.
“This effort rewards our loyal customers with some cash towards their holiday shopping and also attracts new shoppers,” Jet president Liza Landsman said in an e-mail.
Jet’s promotion will likely join a slew of others as retailers look to grab shoppers’ eyes and wallets this holiday season. Sales for the all-important period are expected to rise as much as 4.5 percent to more than $1 trillion, an acceleration from last year’s 3.6 percent gain, consultants Deloitte said earlier this week. Online holiday sales should grow about 20 percent, Deloitte said.