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.