Boxed to sell best ad space through real-time auctions
Retail platform Boxed will pit advertiser against advertiser in real time auctions for the best ad space on the wholesaler's website. It's seeking to boost revenue from its list of advertisers, who are attracted to the site by the longer times shoppers spend browsing its pages compared with rivals. As a "virtual warehouse", shoppers remain on the site for 15 to 20 minutes, giving Boxed more opportunity to target them with ads. It's one way the start-up hopes to challenge Amazon and other e-commerce giants such as Walmart's Jet.com.
This month, shoppers looking to stock up on Halloween candy can buy 160 mini chocolate bars for a mere $16 on ecommerce site Boxed. And starting this week, the confectionery marketers looking to target them with ads can virtually jostle for position like trick-or-treaters searching for the last Snickers in a plastic cauldron.