Boxed Relaunches Software & Services Business Unit as Spresso

Boxed, Inc.

Boxed, Inc.

Announces Lighthouse Partnership with Jeffers Pet, One of the Largest, Privately Held Animal Health Companies in the US
Spresso’s Expanding Data-Driven Suite of Products Creates Opportunity for Wider Customer Base

NEW YORK, July 28, 2022 (GLOBE NEWSWIRE) — 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 Spresso
We 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 Jeffers
Jeffers 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 Contacts
David Taft
boxed
dave@boxed.com

Investor Contacts
Chris Mandeville
ICR
BoxedIR@icrinc.com

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