Once again successful growth can be defined understood by looking at two key pillars that are the basics of retail; price and selection. Fast-growing online grocer Boxed seems to understand the fundamentals and is targeting its growth on Millennials leveraging both price and selection according to Steven Johnson, Grocerant Guru® at Tacoma, WA based Foodservice Solutions®.
In May, Boxed announced that it was joining forces with Lidl to bring online ordering and Boxed Express on-demand delivery to select Lidl locations. Lidl’s stores are known as grocer with great prices and an inviting selection of relevant well priced consumer packaged good and family friended home focused retail items.
So, the story is that Boxed is one of the leading startups in the grocery business, New York-based Boxed has raised $243 million in funding. The company has been the subject of acquisition rumors, and reportedly rejected Kroger’s $400 million purchase offer last year, while holding preliminary talks with Amazon, Target and Costco, according to Bloomberg News Service.
Now Boxed has teamed up with department store chain Century 21 to introduce a curated assortment of beauty and apparel products. The assortment will include brands such as Bare Minerals, Calvin Klein, Polo Ralph Lauren, Adidas and Ray Ban. This is Boxed’s first foray into apparel and cosmetics.
Gindi, EVP of New York-based Century 21 Stores stated "Century 21 Stores is thrilled to partner with Boxed to bring our incredible designer brands at amazing prices to their audience who love online shopping convenience and value quality goods above all else," said Isaac. "It's exciting to provide a new way to shop a range of Century 21 products for our loyal customers alongside their day-to-day items that they know and love on Boxed."
The team at Foodservice Solutions® believes that Boxed is positioned to focus om meals and meal kit solutions given that Boxed revealed in July that it had hired former Amazon executive Prentis Wilson, who led Amazon Business’ growth to $10 billion in annual sales volume, as Boxed's first president. Stay tuned!
For international corporate presentations, educational forums, or keynotes contact: Steven Johnson Grocerant Guru at Tacoma, WA based Foodservice Solutions. His extensive experience as a multi-unit restaurant operator, consultant, brand / product positioning expert and public speaking will leave success clues for all. For more information visit www.GrocerantGuru.com , www.FoodserviceSolutions.us or call 1-253-759-7869