Creative team and wide goals.
Automotive Parts Selling, via Trade, Online or Face-to-Face is driven by correct part application data.
At least 2/3rds of all part applications have more than one actual part type that may be compatible, usually determined by various complicated criteria.
This problem leads to the industry standard high returns rate of 25%+
If two different parts can both be described as being correct then clearly something is wrong.
We have developed a system that analyses all available parts before asking one question to determine which part type is required.
We can then present whole groups of compatible parts, enabling complete transparency so the customer can choose a specific brand, price or location to suit their needs.
By reducing the information required to a single query it is now possible to use VOICE to order the correct parts.
We have a server searching the internet and bringing back
all part information. Our analysis engine ‘PartIQ’ (intelligent question) organises the parts based on their specifications and calculates the differences between them using a machine learning method. This information forms the basis for the single question that will be asked.
As everything has gone online, automotive parts sales are stuck in the dark ages with high returns rates due to mis-ordering. Even when professionals interpret the order they are getting it wrong. Vehicle parts can be bulky and their logistics expensive.
Nobody wants to receive the wrong part but as more people are using smartphones and even voice for online purchases, ordering the incorrect part due to poor information is becoming unavoidable.
Turning the thousands of possible part specifications into a binary question eliminates the need for the presentation of any part specifications.
The current average returns rate for incorrect parts is a staggering 25%
We will disrupt current routes of supply by aggregation of all distributors of both Aftermarket and Original Equipment
50% of all aftermarket parts revenue is generated by ‘wear and tear’ items. This will increase along with the average vehicle age.
We have created a technology platform called ‘CompareTheCarPart.com’ for customers to find all compatible parts. Our aim is to have all original manufacturers’ parts as well as all aftermarket parts for every application.
Each part will eventually have hundreds of suppliers. We will become the default site to search for any vehicle part.
We could license the data to eBay and Amazon to streamline their own cataloguing.
As we hold no stock, we are able to present to a global audience