AEON Malaysia (AEON) has signed an agreement with Boxed to utilise its state-of-the-art technology to accelerate AEON’s expansion into new retail offerings.
A proven e-commerce platform in the United States of America (US) that was fully developed in-house, Boxed recorded an annual turnover of more than USD500 million. It has redefined the wholesale shopping experience with its innovative, multi-platform approach, giving consumers direct-to-their-door access to all of their favourite warehouse club products.
Boxed technology and platform will serve the existing AEON Malaysia customers, as well as to support AEON Malaysia’s expansion into business-to-business ventures and its new retail solutions via AEON Malaysia’s virtual mall. This solution will be able to support AEON Malaysia’s 4,000 tenants throughout its malls in the country.
AEON Malaysia and Boxed also share similar leadership values with emphasis on being entrepreneurial, agile to change and speed to market. Shafie Shamsuddin, Chief Executive Officer of AEON Malaysia said in his statement, “Boxed is one of the few e-commerce companies in the world that built entrepreneurial value in the company by running its own consumer business using its own technology. Working with Boxed will bring in a wholesome customer experience to AEON by bridging more than 1.3 million loyal AEON customers from offline to online space. We are confident that we can bring in quality tenants and merchants, as proven in our brick and mortar business, into our virtual mall.”
AEON Malaysia will utilise Boxed’s proprietary storefront platform and inventory-picking software, including click-and-collect services from selected AEON stores. “The ability for an enterprise customer to make just one call to modernise their digital and physical e-commerce capabilities is truly rare. To do it with low CAPEX is even rarer. We are beyond excited to bring our technology to retailers around the world and help them succeed in today’s competitive market,” said Chieh Huang, Chief Executive Officer of Boxed.