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> Jet shoppers bought more than $33 million in goods through Jet in October, up from around $10 million in August.[...] The company’s marketing head, Liza Lands
by rockinghigh 11y ago
> Jet shoppers bought more than $33 million in goods through Jet in October, up from around $10 million in August.[...] The company’s marketing head, Liza Landsman, said the company will spend, on average, $20 million to $25 million in marketing each month.
$33M in transactions is probably $5M in gross profit. Yet, they are spending $25M in marketing? These numbers don't add up at all. They are losing $200M a year because of marketing alone.