Processes in Microsoft 365 for setting up Office apps, redeeming product keys, and activating licenses.
Dear Leah,
Welcome to the Microsoft Community! Here, we will do our best to offer assistance to Microsoft users.
Regarding the retail boxed and digital download versions of Microsoft Office Home and Student 2021, basically both offer the same products and features. The retail boxed version usually comes with a physical package and license key, while the digital download version is available for download online.
If you need to reinstall Office, either the retail boxed version or the digital download version, you can use your license key to activate the product. As long as you have a valid license key, you can re-download and reinstall Office at any time, even after purging your Mac or changing devices.
As for Mac compatibility, Microsoft Office Home and Student 2021 is compatible with macOS, so you don't need to do anything special after installing it on your Mac. Make sure your Mac meets the system requirements, such as operating system version and hardware configuration.
Overall, whether you choose the retail boxed version or the digital download version depends largely on your preference. If you wipe your Mac after installing Office, since your Microsoft account was already tied to your Office subscription when you activated it previously, you can usually just log in to theServices & Subscriptionspage and choose to install Office on that page.
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I hope you find this information helpful. If you have any other questions, feel free to keep asking.
Best regards,
Ian - MSFT | Microsoft Community Support Specialist