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How does Shipt make money?
Shipt makes money through subscriptions, sales commissions, service and delivery fees, and through selling items at higher prices. Here is a look at each of the ways Shipt makes money:
Membership fees
The majority of the company's revenue is made off of subscriptions for memberships via fees. Users have the option to pay membership fees on an annual or monthly basis. The annual subscription costs $99 per year, while the monthly subscription costs $14 per month.
Sales commission
Shipt earns money through sales commissions because every product that is sold through its platform generates a commission profit for the company. Shipt also has detailed revenue-sharing agreements with the retailers it partners with.
Service and delivery fees
Like most delivery services, Shipt earns money from service and delivery fees. While most of this money is used to pay the independent contractors working for Shipt, called Shoppers, a portion of this money is also reserved for the company itself, giving it another revenue stream to depend on.
Selling items at higher prices
Shipt also makes money from price markups. Normally, the prices for products on the Shipt platform are 10% to 20% higher than the prices of these items in a store.
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