Business
Automotive Parts Marketplace, AutoParts4Less.com, Consolidates Fragmented Market for Consumers While Providing Highly Scalable Business for Investors - Bloomberg Says New and Used Vehicle Prices Advance by the Most on Record
Automotive Parts Marketplace, AutoParts4Less.com, Consolidates Fragmented Market for Consumers While Providing Highly Scalable Business for Investors - Bloomberg Says New and Used Vehicle Prices Advance by the Most on Record.
About this update from Auto Parts 4less Group Inc
[{"type":"text","content":"\n Las Vegas, NV, July 15, 2021 (GLOBE NEWSWIRE) -- By the end of August, The 4Less Group, Inc. (OTCQB: FLES) (the “Company,” “we,” “they”) expects to launch their marketplace platform, AutoParts4Less.com (“AP4Less”) that consolidates a wide range of automotive parts for cars, trucks, boats, motorcycle and RV’s on a single platform designed to create a large eco-system that both diverse groups of sellers and buyers will benefit from. Platform business models are now a global disruptive force, with the top 75 platform companies having an estimated market cap of 7.5 trillion. Like many marketplaces, AP4Less does not plan to hold any type of inventory, as they expect to primarily provide buyers access to numerous sellers. In the beginning, they expect commissions from sales will make up a majority of their revenue with advertising and services to be a big part of the revenue mix in the near future as well. “We’ve built AP4Less to be a very scalable business, meaning that our business has the potential to multiply revenue with minimal incremental cost.” Says Tim Armes, president and CEO of The 4Less Group, Inc. “Additionally, because our present e-commerce site Liftkits4less.com covers operating costs, our added expenditures will be primarily for only hiring extra sales and customer support staff as well as advertising and branding costs”. As a vertical marketplace specifically attuned to the special needs of the parts industry, the Company expects to provide not only an abundance of products from diverse sellers but also, in the near future, provide specific services like the ability to connect with a local installer and a ‘will call’ function allowing buyers the ability to easily pick up parts from local sellers. “The cost of acquisition to bring a retail customer into a retail store is very expensive but with the AP4Less ‘Will Call’ module this is a huge value to retailers!” stated Christopher Davenport, President and CEO of Auto Parts 4Less, Inc., the Company’s wholly owned subsidiary. “We are currently under a NDA with one of the largest software companies in the retail space to use our platform for this purpose and to turn inventory for their clients.” “At the end of the day we believe...