Starter offers online vehicle and parts marketplace
Starter is launching what it describes as “the first price comparison platform for global use” in the automotive vehicle and parts marketplace. Offering a wide product catalogue with more than 5 million parts, it is said to be the largest and most comprehensive website to unite consumers and businesses via a global marketplace.
The automotive aftermarket and spare parts industry are on the verge of entering a digital transformation. Its current value of US$369 billion is expected to grow 3.9 per cent over the next five years, according to Grand View Research, 2019. With consumers demanding increased transparency, sellers that adopt a digital approach stand to see significant fiscal gains.
Starter recognizes the inevitable digitization of the industry as led by the virtual automotive marketplaces found throughout the US and Europe. “There are an overwhelming variety of vehicles on the roads today, each demanding routine service and repairs. Guessing and hoping for a fair repair price is an unwelcome norm for vehicle owners who are kept hidden from the true cost,” says Ilan Bar, Founder, and CEO of Starter.
Starter is expecting the independent price comparison engine to increase competition and reduce the excessive costs of car maintenance. “Giving drivers transparency in the cost of their parts empowers them to shop around for fair estimates.” Bar states, “as consumers who have been taken for a ride by our mechanics, we are focused on a marketplace which is simple, fast, and easy to use.”
Starter’s proprietary algorithms are designed to “relieve consumer stress by quickly identifying their vehicle and region”. With real-time inventory services, sellers have direct access to in-demand buyers. This first of its kind marketplace offers consumers and local garages a competitive edge by allowing them to penetrate new regions.
Starter is currently operating in select regions with a full launch planned for March 2020.