Boxed Relaunches Software & Services Business Unit as Spresso
July 28 2022 - 8:00AM
Boxed, Inc. (NYSE: BOXD, BOXD WS) (“Boxed” or the “Company”), the
technology driven e-commerce company specializing in bulk and
household goods relaunched its Software & Services business as
Spresso, a business unit focused on building
world-class solutions powered by advanced analytics and machine
learning. With Spresso, what began as Boxed’s end-to-end Software
& Services platform has expanded into the ability to choose
from a suite of individual technology modules. Spresso’s mission is
to enable companies to unlock the potential of their customers’
data. Spresso empowers businesses across industries through its
cutting-edge platforms built on rich data insights and superior,
data-driven outcomes – from order to customer to shipment.
Spresso’s end-to-end platform consists of features across a vast
array of e-commerce services -- including storefront, marketplace,
B2B, ad platform, and fulfillment. The platform is built on ten
years of e-commerce experience and innovation, through which
retailers will be able to leverage Spresso’s full lifecycle
solution in addition to valuable data-driven capabilities.
Retailers who choose not to leverage Spresso’s full end-to-end
platform can now choose from a menu of Spresso SaaS modules, each
helping solve a unique business challenge. Among its suite of
offerings, Spresso products deliver solutions for:
- Increasing the profitability of a product catalog without
hurting conversion rates
- Improving conversion rates through pricing optimization without
sacrificing profitability
- Identifying high-risk customers at the most optimal time in
their lifecycle to reduce churn
- Identifying the most high-value customers at the onset of
customer engagement
- Recommending the most relevant items at the most optimal point
in the user experience to increase basket sizes
- Optimizing the packing and shipping functions to reduce waste
and deliver cost savings
Spresso is also announcing a lighthouse partnership with Jeffers
Pet, one of the largest privately-owned animal health supply
companies in the United States. Spresso will deploy a number of its
SaaS modules to boost Jeffers’ bottom line while enhancing the
customer journey.
“Jeffers has delighted customers for nearly 50 years, and online
for almost 25 years,” said Ruth Jeffers, founder and Co-Chief
Executive Officer of Jeffers. “Whether it's the pet, equine or
livestock categories, amazing customer service is the magic and the
heart of what we do. We're excited to join Spresso as a lighthouse
partner adopting their machine learning products and improving
overall user-experience for Jeffers customers.”
“With the launch of Spresso and its partnership with Jeffers, we
are proving to be not just an e-commerce retailer, but an
e-commerce enabler,” said Boxed Chief Operating Officer and Spresso
Business Head, Jared Yaman. "Boxed invested early in data science
and machine learning. We have built, tested, iterated, and
innovated solutions that have been transformative for Boxed's
business. With Spresso, we have taken the best of our solutions and
packaged them so that any business, regardless of data capability
and size, can see meaningful impacts to their bottom line.”
“The signing of our Memorandum of Understanding with AEON
Vietnam demonstrated that our technology can extend beyond
English-speaking deployments. The Jeffers partnership shows that
our technology extends beyond just grocery. I am incredibly excited
about these enhancements to Spresso’s total addressable market and
the prospect of sharing our capabilities with more world-class
retailers." said Boxed CEO Chieh Huang.
About Boxed Boxed is an e-commerce
retailer and an e-commerce enabler. The Company operates an
e-commerce retail service that provides bulk pantry consumables to
businesses and household customers, without the requirement of a
“big-box” store membership. This service is powered by Spresso, the
Company’s own Software & Service business. From solving
challenges with data using machine-learning modules to
re-platforming with end-to-end technology, Spresso’s purpose-built
storefront, marketplace, analytics, fulfillment, advertising, and
robotics technologies enable better business outcomes for
e-commerce customers. The Company aspires to make a positive social
impact with an emphasis on good Environmental, Social and
Governance (“ESG”) practices, and as such, has developed a
powerful, unique brand, known for doing right by its
customers, employees and society. For more information, please
visit investors.boxed.com.
About SpressoWe make decisions based on data,
and our mission is for everyone to be able to do the same. What
started as a comprehensive retail platform built for Boxed has
become Spresso, a world-class suite of products we’ve continued to
evolve and power with advanced analytics and machine learning. We
envision retailers and companies of various industries using
Spresso tools and solutions, and leveraging our deep expertise for
rich data insights and outcome-driven actions.For more information
about how Spresso tools and solutions can democratize your data for
the benefit of your business and your customers, please visit
https://www.spresso.com.
About JeffersJeffers is one of the largest
privately-owned animal health supply companies in America,
operating through www.jeffers.com and the Jeffers catalog. Located
in Dothan, Alabama, Jeffers has been in operation for over 45 years
providing you with amazing customer service and dedication to
ensure you receive the highest quality products at the most
reasonable price.
Media ContactsDavid Taft Boxed
dave@boxed.com
Investor Contacts Chris Mandeville ICR
BoxedIR@icrinc.com
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