Boxed e-commerce grocery platform, which offers pantry consumables in bulk to households and businesses and licenses its e-commerce software to corporate retailers, will be reduce transportation expenses between its fulfillment centers through a multi-year agreement with FedEx, which will now deliver the majority of customer shipments for the company.
The expanded collaboration will allow more Boxed customers to access seven-day-a-week deliveries, and the company said it will invest shipping savings in better customer pricing and product promotions.
“In this challenging supply chain environment, e-commerce companies are looking for new avenues to counter escalating costs and provide the best possible service to their customers,” said Chieh Huang, CEO of Boxed, based in London. New York. “This strengthened alliance with FedEx gives us the opportunity to address both.”
FedEx has been a Boxed partner since 2013, and the increased shipping capabilities resulting from this expanded collaboration will help Boxed provide better customer service and a more consistent delivery experience across the country.
“The collaboration between FedEx and Boxed demonstrates how e-commerce providers and shipping companies can design new solutions to collectively meet the new demands and needs of our customers today and tomorrow,” said Ryan Kelly, vice president of e-commerce, SAM and retail marketing at Fedex. “We are proud of this alliance and look forward to enabling Boxed and its retailers to access market-leading supply chain flexibility and capability. It’s the next step for businesses of all sizes.
Partnership aside, Boxed has had a busy month. On May 11, the company shared positive news about its first quarter financial situation, including a 14.1% increase in net sales. compared to a year ago, and an 11.3% increase in net sales. Additionally, Boxed recapped some of its trading moves in the first part of its fiscal year, including the recent expansion of its management team.
Boxed, based in New York, operates an online retail service that provides bulk pantry consumables to businesses and individuals, without the requirement of being a member of a big box store. The service is powered by the company’s purpose-built storefront, marketplace, analytics, fulfillment, advertising, and robotics technologies. Boxed further enables e-commerce through its software and services business, which provides customers in need of an enterprise-level e-commerce platform with access to its end-to-end technology.