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Boxed’s new paid membership is half the price of Amazon Prime

Boxed’s new paid membership is half the price of Amazon Prime
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Money expert Clark Howard’s prediction about — which has been referred to as “Costco for millennials” — has come true!

If you’re not familiar, Boxed is an online retailer that lets you buy in bulk at warehouse prices.

RELATED: Costco for millennials? 5 things to know about Boxed

Boxed Up vs. Amazon Prime: What you need to know

Earlier this year, Clark added Boxed to his list of five retailers to watch in 2018 and said he thought the company may introduce a paid membership option.

Here’s what Clark said back in February:

“There’s no annual fee, although I expect as Boxed matures they’re likely going to have to go to some form of annual fee or do like Amazon does where you can shop with them either with an annual fee and get extra privileges or without.”

Fast forward to April and we’re learning about Boxed Up. The premium service offers benefits like 2% cash rewards, free priority shipping and exclusive access to special promotions.

Members will also receive VIP customer service and price-matching for competitors, the company said.

Boxed Up costs $49 per year after a 30-day free trial. Amazon Prime is $99 per year and also offers free two-day shipping, but it has a huge selection and comes with entertainment perks that Boxed Up doesn’t provide.

RELATED: 3 money-saving Amazon Prime perks you need to know about right now

Still, Boxed Up may be worth a shot if you already use and are willing to pay extra for deeper discounts.

If you were drawn to Boxed because there wasn’t a membership fee, not to worry. You can still shop without a membership and receive free shipping on orders over $49.

You’ll be able to sign up for Boxed Up starting on April 12.

RELATED: Costco vs. Boxed price comparison: Which is cheaper?