Spresso, SaaS Division of Boxed, Partners with VTEX to Bring Data-Driven Insights to Merchants Globally
February 01 2023 - 8:00AM
Boxed, Inc. (NYSE: BOXD) (“Boxed” or the “Company”), the
technology-driven e-commerce retailer and e-commerce enabler,
announced that Spresso, its SaaS modular solution platform has
partnered with global enterprise digital commerce platform VTEX.
The partnership unlocks Spresso’s modular solutions, including
Price Optimization and LTV & Churn Prediction, now easily
accessible for thousands of VTEX customers across the world.
VTEX is committed to supporting its customers with best-in-class
solutions that are proven to combat the commerce challenges they
face every day. This is why the Spresso partnership is exciting.
Through this new partnership, VTEX customers can now easily take
advantage of Spresso’s data-driven insights to enact better results
for their businesses including balancing profitability &
conversion, managing customer churn, and increasing customer
lifetime value.
Spresso built its solutions in response to real-world challenges
retailers regularly faced. The solutions leverage machine learning,
advanced analytics, and artificial intelligence to drive better
business outcomes. VTEX is launching with two Spresso modules, its
Price Optimization and LTV & Churn Prediction Solutions.
“As retailers look to increase profitability, the ability to
leverage tools like dynamic value-based pricing can help businesses
get ahead of the competition,” said Mariano Gomide de Faria,
Founder and co-CEO at VTEX. “More complex scenarios of promotions
and pricing will be a reality in the US retail world; tactics long
used by emerging markets are now becoming popular in the US. The
retail environment in the US will be more and more
competitive.”
Using the Spresso Price Optimization module, VTEX customers can
unlock dynamic pricing based on their first-party data. The
solution allows for SKU-level price optimization based on profit
and conversion parameters set by the VTEX customer
In addition to Price Optimization, Spresso is offering its LTV
& Churn Prediction module. This solution helps businesses
predict lifetime value and the likelihood of customers to churn,
enabling businesses to better control the full lifecycle of their
customer-level economics. Using data and advanced analytics
supports the shift from a reactive retention strategy to a truly
proactive retention one.
“The VTEX partnership is a critically important component of
Spresso’s go-to-market strategy, in part because VTEX is a global
power player,” said Jared Yaman, Chief Operating Officer at Boxed
and Spresso Business Head. “We are thrilled to partner with VTEX to
bring businesses across the world new tools to drive profitability
in this ‘Era of Profitability’.”
This partnership builds on the recent momentum of Spresso’s
software launch on Google Cloud Marketplace. To learn more about
Spresso on the Google Cloud Marketplace visit here.
About VTEXVTEX (NYSE: VTEX) is the enterprise
digital commerce platform where global brands and retailers run
their world of commerce. VTEX puts its customers’ businesses on a
fast path to growth with a complete Commerce, Marketplace, and OMS
solution. VTEX helps global companies build, manage and deliver
native and advanced B2B, B2C, and Marketplace commerce experiences
with unprecedented time to market and without complexity. As a
leader in digital commerce platforms, VTEX is trusted by more than
2,400 customers, such as AbInbev, Carrefour, Colgate, Motorola and
Whirlpool, having over 3,200 active online stores across 38
countries (as of FY ended on December 31st, 2021). For more
information, visit www.vtex.com.
About BoxedBoxed 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 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.
Media Contacts
David TaftBoxeddave@boxed.com
Investor ContactsChris
MandevilleICRBoxedIR@icrinc.com
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