Gao purchase rate so come on! It uses algorithms to keep consumers buying and buying

Source: Internet
Author: User

You took off your clothes to take a bath, but found that the shower gel has not been bought ... It's okay, if you're shopping in boxed, this little embarrassment won't come up.

Boxed is an American online grocery retailer, a model somewhat similar to Costco, which implements membership (but is said to be now available on the platform for non-member users), specializes in selling household items (characterized by bulk), about 1500 SKUs, and sells its own branded products.

Since its inception in 2013, boxed has received a total of 4 rounds of investments totaling $132.6 million, including the Ame Cloud Ventures founded by Yahoo founder Jerry Yang, American Express (American Express Ventures), Basset Investmentgroup, Bessemer Venture Partners and so on. Their sales in 2015 were only $50 million, compared with a doubling of $100 million last year.

Recently, boxed launched an "intelligent re-purchase function"--smart stockup. This feature predicts when a user will have insufficient allowance for daily necessities, and then sends a reorder reminder to the product accordingly.

It is reported that boxed research and development of this function is to take into account the consumer in groceries shopping a common problem: the face of new mobile phone models, new mouth red or the new bag, consumers are not easy to forget its release time, but for the home every day to use the shower gel, washing powder will not give more attention, Often wait until the day of light dawned.

The Smart stockup feature is designed to help consumers avoid this dilemma. Before the daily necessities such as shower gel and washing powder are exhausted, it will automatically remind consumers to "buy * * *".

It is understood that before the official launch, 25% of users have tried smart Stockup function, boxed got a good response, and currently this feature has been for all consumers officially launched. "We want to bring more convenience to consumers and make their lives easier to shop for," said Will Fong, chief technology officer of Boxed Corporation. ”

Prior to this, boxed also launched a similar function--concierge for enterprise users. Concierge can predict the depletion time of public goods (such as office supplies or snacks) for boxed enterprise members, and can automate the completion of orders in advance and send products directly to users.

Fong points out: "Business-to-market accounts for 20% of our total revenue. At present, we are only open to some business-to-business users of the concierge service, in the testing phase has not occurred automatically shipped orders are returned. We hope to be able to open this feature to all business-to-business users soon. ”

According to the introduction, boxed is mainly through the algorithm of the user data analysis, and then predict the user is about to run out of goods, then send reminders or automatically send products for users. This algorithm is developed by boxed's team. "In the future, we will continue to analyze user data to optimize this algorithm." "Fong said.

Of course, boxed's attempts to use digitalization and technology to spur sales and improve efficiency are more than that. Earlier this year, for example, boxed spent $ millions of on a new automation system designed to expand its 140,000-square-foot warehouse capacity by three times times, without adding space and manpower. (Note: Boxed currently has warehouses in New Jersey, Dallas, Las Vegas and Atlanta. )

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Gao purchase rate so come on! It uses algorithms to keep consumers buying and buying

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