CRANBURY, N.J., Feb. 24, 2022 (GLOBE NEWSWIRE) -- PARTS iD, Inc. (NYSE American: ID) (“PARTS iD” or “Company”), the owner and operator of, among other verticals, “CARiD.com,” a leading digital commerce platform for the automotive aftermarket, today announced it has surpassed 500 repair classifications within its Shop By Service Type search functionality. The feature allows customers to select a specific replacement part, while the platform searches through more than 16.7 million product SKUs to deliver a thorough list of the exact products needed to complete the task.
Shop By Service Type is built directly into PARTS iD’s proprietary site infrastructure, creating a unique and frictionless customer interface that many competing e-commerce, hybrid or brick-and-mortar businesses do not currently offer. The outstanding feature is that the customer chooses the primary replacement item (for example, brake pads), and the website delivers a wide choice of results while also showing complimentary or optional items frequently needed (brake rotors, brake fluid, and even special brake tools). The benefit is that the customer can order all supplemental products at the same time, rather than later discovering that a necessary component is missing. All products found via Shop by Service Type are guaranteed to fit the vehicle, based on the year, make and model as entered by the customer.
The current Shop by Service Type collection includes major systems such as brakes, cooling, ignition, and suspension, which are broken down into detailed component lists such as brake calipers, radiators, spark plugs, and shock absorbers. The feature’s functionality and scalability are made possible by way of the platform’s robust fitment data, which encompasses over 14 billion unique product and vehicle data points.
“The growth of our Shop by Service Type search capabilities is directly aligned with PARTS iD’s overall efforts to reinvent how shoppers purchase car parts and accessories online. The strength of this feature enables us to build on our industry-leading customer service offerings and drive continued positive sentiment from shoppers,” said Nino Ciappina, CEO of PARTS iD, Inc. “Through consistent investments in platform enhancements that optimize the customer experience on CARiD.com, including Shop by Service Type, PARTS iD is confident in our ability to drive revenue while maintaining low return rates and high customer satisfaction.”
Like other features found across PARTS iD’s stores, Shop By Service Type prioritizes the delivery of an informative, intuitive and confident shopping journey. PARTS iD’s proven commitment to innovation and first-class customer service was recently validated by the Company’s 2021 industry-leading Net Promoter Scores.
With new and used car prices maintaining record levels at the start of 2022, many drivers who are delaying new car purchases are expected to seek repair and replacement services to maintain their existing vehicles. The extensive collection of parts replacement items available to customers through Shop by Service Type and the platform’s industry-leading vehicle fitment data make PARTS iD well-positioned to capture this market.
For more information, please visit www.partsidinc.com.
About PARTS iD, Inc.
PARTS iD is a technology-driven, digital commerce company focused on creating custom infrastructure and unique user experiences within niche markets. Founded in 2008 with a vision of creating a one-stop e-commerce destination for the automotive parts and accessories market, management believes that the Company is a market leader and proven brand-builder, fueled by its commitment to delivering a revolutionary shopping experience; comprehensive, accurate and varied product offerings; and continued digital commerce innovation.
Cautionary Note Regarding Forward-Looking Statements
All statements made in this press release relating to future financial or business performance, conditions, plans, prospects, trends, or strategies and other such matters, including without limitation, expected future performance, consumer adoption, anticipated success of our business model or the potential for long term profitable growth, are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. In addition, when or if used in this press release, the words “may,” “could,” “should,” “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “predict,” “potential,” “confident,” “look forward” and similar expressions and their variants, as they relate to us may identify forward-looking statements. We operate in a changing environment where new risks emerge from time to time and it is not possible for us to predict all risks that may affect us, particularly those associated with the COVID-19 pandemic, which has had wide-ranging and continually evolving effects. We caution that these forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which change over time, often quickly and in unanticipated ways.
Important factors that may cause actual results to differ materially from the results discussed in the forward-looking statements include risks and uncertainties, including without limitation: costs related to operating as a public company; difficulties in managing our international business operations, particularly in the Ukraine, including with respect to enforcing the terms of our agreements with our contractors and managing increasing costs of operations; the impact of health epidemics, including the COVID-19 pandemic, on our business and the actions we may take in response thereto; changes in our strategy, future operations, financial position, estimated revenues and losses, product pricing, projected costs, prospects and plans; the outcome of actual or potential litigation, complaints, product liability claims, or regulatory proceedings, and the potential adverse publicity related thereto; the implementation, market acceptance and success of our business model, expansion plans, opportunities and initiatives, including the market acceptance of our planned products and services; competition and our ability to counter competition, including changes to the algorithms of Google and other search engines; developments and projections relating to our competitors and industry; our expectations regarding our ability to obtain and maintain intellectual property protection and not infringe on the rights of others; ability to maintain and enforce intellectual property rights and ability to maintain technology leadership; our future capital requirements, our ability to raise capital and utilize sources of cash; our ability to obtain funding for our operations; changes in applicable laws or regulations; the effects of current and future U.S. and foreign trade policy and tariff actions; disruptions in the marketplace for online purchases of aftermarket auto parts; disruptions in the supply chain; and the possibility that we may be adversely affected by other economic, business, and/or competitive factors.
Further information on the factors and risks that could cause actual results to differ from any forward-looking statements are contained in our filings with the United States Securities and Exchange Commission (SEC), which are available at https://www.sec.gov (or at https://www.partsidinc.com). The forward-looking statements represent our estimates as of the date hereof only, and we specifically disclaim any duty or obligation to update forward-looking statements.
Investors:
Brendon Frey
ICR
ir@partsidinc.com
Media:
Erin Hadden
FischTank PR
partsid@fischtankpr.com
