CRANBURY, NJ, December 16, 2021 (GLOBE NEWSWIRE) – PARTS iD, Inc. (NYSE American: ID) (âPARTS iDâ or âCompanyâ), the owner and operator of, among others, âCARiD. com â, a leading digital commerce platform for the automotive aftermarket, today announced that it achieved a Net Promoter ScoreÂ® (NPSÂ®) of 70.0 in November, its highest monthly score. high from 2021 to date. November’s high score follows several months of Net Promoter Scores high between 65 and 70. A company’s NPS measures customer experience and satisfaction by asking customers to rate their likelihood of recommending the brand on a scale. from one to ten and subtracting the percentage of detractors (score 0-6) from the percentage of promoters (score 9-10).
In 2021, PARTS iD regularly received an NPS of between 60 and 70 almost every month, demonstrating the high satisfaction of the company’s customers and their likelihood of recommending the company to their friends and family. A consistently high NPS score is a notable achievement at a time when online brands grapple with the negative impact of the pandemic on customer service.
âOur NPS demonstrates that our investments in proprietary technology, comprehensive edit data, personalized content and customer service make a real difference to our customers,â said Nino Ciappina, CEO of PARTS iD. âWe are proud to have such satisfied customers. We want them to know that we will continue to improve ourselves and push the boundaries of what is possible as we continue our mission to reinvent the way people buy parts and accessories.
These scores are the result of the company’s focus on providing a first-class customer service experience within its one-stop shop for those looking to accessorize and repair their cars, motorcycles, boats and more. Across its eight product verticals, PARTS iD’s unrivaled product catalog includes more than 17.5 million SKUs, more than 5,000 active brands and 1,000 product categories.
The positive customer sentiment reflected in the recent NPS contributes to increased customer retention. In the third quarter, revenue from loyal customers increased by more than 500 basis points to 34.4% of total revenue, from 29.0% in the third quarter of 2020. In addition, PARTS iD has consistently maintained a low return rate of around 5%, compared to the industry average of 18-20%.
PARTS iD’s comprehensive edit database includes over 14 billion data points. Rich product data and a proprietary AI-powered e-commerce platform enables more efficient and accurate search and discovery for customers who purchase complex parts and accessories. Detailed product descriptions, high-quality images, videos, and educational resources further bolster the buying confidence of customers, many of whom rely on these assets before and after purchase.
Customer satisfaction is a critical metric for e-commerce brands as the industry continues to see increased activity during the pandemic. 76% of shoppers surveyed said convenience was a key priority when rating online retailers. Many are also placing increased emphasis on quality of service in online transactions, with the share of customers citing it as a significant factor in purchases rising from 42% in May 2021 to 46% in October 2021.
For more information, please visit www.partsidinc.com.
About PARTS iD, Inc.
PARTS iD is a technology-driven digital commerce company focused on creating personalized infrastructures and unique user experiences in niche markets. Founded in 2008 with the vision of creating a unique e-commerce destination for the automotive parts and accessories market, management believes the company to be a market leader and a proven brand builder, fueled by its commitment to delivering a customer experience. revolutionary purchase; complete, precise and varied product offers; and the continuous innovation of digital commerce.
Caution regarding forward-looking statements
All statements made in this press release regarding future financial or business performance, conditions, plans, prospects, trends or strategies and other similar matters, including, without limitation, future performance expected, consumer uptake, expected success of our business model, or the potential for long-term profitable growth, are forward-looking statements within the meaning of the United States 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 to” “,” plan “,” predict “,” potential “,” confident “,” expect “and similar expressions and variations thereof as they relate to us may identify forward-looking statements. We operate in a changing environment where new eme risks do occur from time to time and it is impossible for us to predict all the risks that may affect us, especially those associated with the COVID-19 pandemic, which has had far-reaching and ever-changing effects. We caution that these forward-looking statements are subject to many assumptions, risks and uncertainties, which change over time, often rapidly and in unforeseen ways.
Important factors that could cause actual results to differ materially from the results discussed in forward-looking statements include risks and uncertainties, including, without limitation: the costs of operating as a public company; difficulties in the management of our international commercial operations, in particular in Ukraine, in particular with regard to the application of the terms of our agreements with our subcontractors and the management of the increasing costs of the operations; the impact of health epidemics, including the COVID-19 pandemic, on our business and the actions we can take to respond to them; changes in our strategy, future operations, financial condition, estimated income and losses, product pricing, projected costs, outlook and plans; the outcome of an actual or potential litigation, complaint, product liability claim or regulatory process, and the potential negative publicity associated therewith; the implementation, market acceptance and success of our business model, expansion plans, opportunities and initiatives, including market acceptance of our anticipated products and services; competition and our ability to compete, including changes to algorithms by Google and other search engines; developments and projections relating to our competitors and our industry; our expectations regarding our ability to obtain and maintain intellectual property protection and not to infringe the rights of others; the ability to maintain and enforce intellectual property rights and the ability to maintain technological leadership; our future capital needs, our ability to raise capital and use sources of liquidity; our ability to obtain financing for our operations; changes in applicable laws or regulations; the effects of current and future US and foreign trade policy and tariff measures; disruptions in the online shopping market for auto parts; disruptions in the supply chain; and the possibility that we will be adversely affected by other economic, business and / or competitive factors.
Further information about the factors and risks that could cause actual results to differ from forward-looking statements is contained in our filings with the United States Securities and Exchange Commission (SEC), which are available at (or on). Forward-looking statements represent our estimates as of the date hereof only, and we specifically disclaim any obligation or obligation to update forward-looking statements.
Net PromoterÂ®, NPSÂ®, NPS PrismÂ® and the NPS related emoticons are registered trademarks of Bain & Company, Inc., Satmetrix Systems, Inc. and Fred Reichheld. Net Promoter Scoreâ and Net Promoter Systemâ are service marks of Bain & Company, Inc., Satmetrix Systems, Inc. and Fred Reichheld.
Investors: Brendon Frey ICR [email protected]
Media: Erin Hadden FischTank PR [email protected]