Boxed Thinks Pink with New Pricing Strategy
Boxed said it was taking a stand on the so-called “pink tax” on certain women’s products in a move designed to generate awareness and encourage usage with female shoppers. The three-year-old company said it was taking a powerful stand against what it called a luxury tax on feminine hygiene products and gender price-gouging on everyday items including body wash, deodorant, razors, and shave gel, by lowering prices on these items for consumers. The company said it hoped its actions would encourage other retailers to do the same and that it was incurring the cost to change the prices. Boxed stopped short of disclosing the financial impact of its actions or the number of products involved, but said it would take a hit on margins to correct gender pricing wrongs.
"Our team took a hard look at some of the products offered on Boxed and realized that many female products cost significantly more than their male equivalents on a per-ounce or per-unit basis, and in some states feminine products are charged a luxury tax," said Boxed CEO and founder Chieh Huang. "This just didn't make sense to our team, and when it was brought to senior management's attention, we immediately decided this was an issue we wanted to help bring to the forefront and take action."