According to a recent article in the New York Post, Amazon is interested in the buy-in-bulk e-commerce business, which some have dubbed the “Costco for millennials.” According to the source, Boxed CEO Chieh Huang was personally invited by Amazon CEO Jeff Bezos to meet with him in Seattle to explore a possible acquisition. According to a Forbes article, Boxed was seeking a bid between $500 million and $1 billion. Boxed’s most recent valuation, $470 million, was established in 2016 when the company last raised investment capital.
If a deal for an acquisition isn’t struck, Boxed might seek more money, according to Forbes. The Post also claimed that Bed Bath & Beyond and General Mills were considering investing in Boxed.
What is so special about Boxed?
Using the Boxed app or website, American online and mobile wholesale retailer Boxed, Inc. enables direct delivery of bulk-sized goods. The selection of products in boxes has been compared to Costco’s. Due to the company’s tendency to sell in bulk, its goods sometimes have a cheaper cost per unit than those offered by other merchants.
1. Price: Boxed does not require a membership fee to use its service, in contrast to conventional warehouse clubs. On orders under $75, you will be charged a shipping fee of $6.99 because it is a delivery-only service. For $49 a year, Boxed Up offers free delivery on orders over $19.98 and 2% back in incentives on every buy that can be used toward future purchases.
2. Delivery: Orders are typically shipped by Boxed one working day after you purchase them, and shipment can take one to three days. Orders are delivered by carriers like UPS or FedEx. If it’s an option, you can choose same-day delivery through Boxed Express. These orders are filled in-store by a Boxed shopper, who then delivers them to you.
3. Availability: Boxed presently only offers delivery to the 48 contiguous states of the United States; Alaska and Hawaii are not included. Additionally, military post office addresses and PO boxes are not acceptable delivery addresses for the business.
4. Customer service: Both the Apple App Store and Google Play offer the Boxed app. Additionally, you can place orders straight through the business’ website. You can compose an email using the website’s Contact Us form or post a message on social media to get in touch with customer care.
Pros of services offered by Boxed
- Provides bulk home delivery without requiring membership.
- Bulk purchases frequently have lower unit costs than individual quantities.
- Free delivery and 2% back are available from Boxed Up on orders over $19.98.
- From Costco to Lidl, Boxed Express provides same-day fresh grocery delivery.
Features of Boxed
- Customers of Boxed can shop online or through the iOS or Android apps.
- Boxed introduced SMART Stock up in August 2017; it uses machine learning to analyze consumer data to forecast when a product would likely run out. Customers receive a reminder when they log in, making it simple and handy for them to repurchase what they require.
- Concierge, an autonomous shopping idea that uses the same algorithms as SMART Stock up to not only predict when a user is running low but also pre-emptively fulfill and send a customer’s goods to them without them having to engage at all, was introduced by Boxed in conjunction with SMART Stock up. At the moment, only B2B clients can use it.
A completely online alternative to physical warehouse clubs, Boxed provides bulk groceries without requiring a membership fee. Boxed also offers Boxed Express, a same-day fresh grocery delivery service, however even in those places where it is offered, delivery times are constrained. Boxed can be a fantastic fit for you if you value the financial benefits of buying in quantity and the convenience of having your order delivered right to your door.