eBay Partners With Openbay To Expand Automotive Parts Sales to Aftermarket Industry
Openbay survey found 89% of auto repair shops willing to change current suppliers of auto parts
CAMBRIDGE, Mass., Dec. 20, 2017 /PRNewswire/ -- Today, Openbay announced it has partnered with eBay Motors to provide the availability of millions of searchable automotive parts and accessories for its online marketplace for auto repair and service. Powered by eBay Motors, businesses can research, source and acquire automotive parts directly through the Openbay dashboard. This selection features a wide spectrum of value including genuine OEM automotive parts, white label parts, national brand aftermarket parts, remanufactured and used parts, as well as hard-to-find parts that are no longer manufactured.
"By collaborating with Openbay, we are making it extremely easy for automotive repair businesses to get their hands on the parts they need, when they need them," said Jordan Hettinga, Director of Category Management at eBay Motors. "With millions of items available on eBay – everything from OEM to hard-to-find parts, we're arming the Openbay community with the access to this inventory. With our wide spectrum of value, we're hoping to save customers time, money, all while improving their profitability."
The Openbay marketplace - with participation from its automotive care business network - aims to exceed the modern consumer's expectations when servicing their vehicle. The majority of Openbay registered users operate out-of-warranty vehicles or vehicles that are beyond the 11+ average age vehicle on U.S. roads. Presenting users with a convenient and frictionless way to book and pay for automotive service and with automotive care providers having access to a wide range of parts for every car and light truck all play a key role in gaining customer trust and loyalty.
"There are several large trends impacting the automotive aftermarket industry and companies that serve the automotive parts supply chain," said Rob Infantino, founder and CEO of Openbay. "The largest population in U.S. history is now of driving age [Millennials] and buying older vehicles as their first car. Acquisition of online services is at an all-time high. More than 60 million vehicles older than 16-years in age are in operation on U.S. roads that will require more repair and service when compared to later model vehicles. These trends translate to a large and growing opportunity to service a unique customer segment. Openbay and eBay Motors are helping improve the customer experience when getting a vehicle serviced and helping increase efficiency and profitability for automotive care businesses."
Sourcing parts for older vehicles or for customers with unique needs and improving parts profitability are constant challenges for automotive care businesses. To alleviate these concerns, Openbay has leveraged eBay's APIs to streamline the end-to-end customer service experience and to drive efficiency and profitability for automotive care businesses.
Benefits for Automotive Care Businesses
Additional benefits for automotive care businesses accessing eBay Motors via Openbay:
- Access to genuine OEM automotive parts from franchises across the U.S., branded aftermarket products, new white label parts, remanufactured and used parts.
- Opportunity to stock up on parts used most frequently in bulk. Examples include engine and cabin air filters, oil filters, light bulbs, wiper blades, fuses, fluids, shop supplies.
- Access to hard-to-find parts, obsolete or no longer available parts.
- Unique accessories outside of a repair that might be requested by the customer.
Automotive Care Businesses Willing to Consider Alternate Suppliers of Auto Parts
More than 180 independent automotive care businesses participated in a recent survey conducted by Openbay. The survey revealed a willingness on behalf of the business to change parts suppliers in order to increase profitability through competitive parts pricing and to improve operational efficiency. Survey results provide valuable insight and opportunity for Internet retailers with a broad parts catalog to expand its sales beyond the DIY market (do-it-yourself) and into the DIFM market (do-it-for-me) which is currently valued at more than $380 billion dollars*.
The survey also found:
- More than 77% of respondents with service revenue exceeding $1 million are "moderately-to-extremely likely" to switch away from their current auto parts supplier. The percentage of businesses willing to switch suppliers increased to 89% for those businesses with service revenue under $1 million.
- The survey inquired about the share of parts purchased from major part supplier channels. Independent repair shops use national retail distributors and warehouse specialty channels for the majority of their parts; however, the survey found that internet retailers made up 6.2% of parts purchases.
- This becomes especially important when looking for hard to find parts and cost competitive parts for customers who are cost conscious. Openbay's integration of eBay Motors inventory enables this transition to sourcing from multiple sellers.
The complete Openbay survey analysis can be found here.
Automotive care businesses are encouraged to join Openbay: http://www.openbay.com/apply
About eBay
eBay Inc. (NASDAQ: EBAY) is a global commerce leader including the Marketplace, StubHub and Classifieds platforms. Collectively, we connect millions of buyers and sellers around the world, empowering people and creating opportunity through Connected Commerce. Founded in 1995 in San Jose, Calif., eBay is one of the world's largest and most vibrant marketplaces for discovering great value and unique selection. In 2016, eBay enabled $83 billion of gross merchandise volume. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.
About Openbay
Openbay is an online marketplace and SaaS software company transforming the experience for automotive repair and services for consumers, and the way that automotive care businesses acquire and service customers. Openbay is headquartered in Cambridge, MA, is privately held, and its investors include Stage 1 Ventures, Boston Seed Capital, GV (formerly Google Ventures), a16z seed, and several individual investors. Openbay holds an A+ rating from the Better Business Bureau.
Follow Openbay on its blog, Facebook, twitter, Instagram, or visit Openbay.com for additional information.
* AAPEX17. Sources: Auto Care Association, AASA Channel Forecast Model
Contact: [email protected]
SOURCE Openbay, Inc.
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