Online marketplace launched yesterday in the US and is being touted as a possible competitor to etail giant Amazon., which raised $255m (£163.2m) before launching, stocks everyday items such as toothpaste and toilet paper, as well as electricals and food. It promises to offer big savings to customers who buy multiple items in a single order.

Membership of the site will cost $49.99 (£32) a year it offers free two-day shipping and benefits including video and music streaming.

The start-up’s executive vice-president and chief customer officer Liza Landsman told “We’re trying to do something different in that, pretty much anything you want to buy from TVs to toilet paper, you could get 10% to 15% off what you normally spend, without doing anything other than coming to our site and becoming a member.”

Jet’s revenue will reportedly come purely from membership fees, not sales, allowing the company to charge the lowest prices possible for products.

On its website, Jet says: “We’ve set out to make shopping more transparent, more efficient, and at the same time, a little more fun.

“We share a sense of community with our members and our partners, and we’re striving to create a business model that reflects that. We don’t profit on the products we sell — just on membership fees — so our goals are aligned with yours and those of our partners.”