Genuine Parts Company Announces Launch of NAPA's Virtual Parts Store
21 April 2000
Genuine Parts Company Announces the Launch of NAPA's Virtual Auto Parts Store: www.napaonline.com
ATLANTA--April 21, 2000--parts availability to the Internet
Genuine Parts Company (NYSE: GPC), the industry leading distributor of automotive replacement, industrial, office and electrical/electronic replacement parts, announced today a major step in the Company's Internet strategy.
The Automotive Parts Group unveiled NAPA's complimentary business model between its consumer Internet business, www.napaonline.com, and over 6,000 NAPA AUTO PARTS stores. This launch demonstrates how NAPA is leveraging new technology and its existing "bricks and mortar" assets to enhance the consumers' automotive aftermarket experience. NAPAonline.com also extends the trusted NAPA brand into electronic commerce for automotive parts and accessories.
Larry Prince, Chairman of the Board and Chief Executive Officer of Genuine Parts Company, said, "We are pleased with the launch of NAPAonline.com and the registrations that the site has generated since the soft launch earlier this year. This business-to-consumer model is the first in several strategic initiatives we have planned for 2000 across each of our business lines that utilizes the Internet as a vehicle to take advantage of growing market potential and generate additional sales. Our Internet strategy continues to be twofold with the commitment to better serve our NAPA store customers and to work with them on opportunities in both the business-to-business and business-to-consumer markets."
GPC's real-time "unit of one" distribution model, coupled with its inventory management, technology and content capabilities, has strengthened its leading position in the highly fragmented automotive aftermarket. NAPAonline.com provides consumers with real fulfillment through a national network of warehouses and stores. Customers now have access via the Internet to GPC's extensive product offering for same-day shipping, quality customer service, and 24-hour information access.
Prince continued, "For years, GPC has made major investments in technology that now serve as the backbone for today's Internet strategy. We will continue to leverage our existing infrastructure to gain new market share and remain extremely committed to further extending our leading industry presence to the Internet, driving new sales opportunities at both NAPA stores and via the web."
With today's launch, Internet shoppers can choose from an inventory of 200,000 automotive parts, accessories, tools and equipment for purchase with a click of a button. NAPAonline.com allows potential customers visiting the site to customize search information specific to their car's make, model and year and will leverage real-time repair information. For site visitors planning a do-it-yourself car project, NAPAonline.com will help produce a list of the parts and supplies needed, enabling visitors to order the merchandise online or take the shopping list to their nearest NAPA store for purchase.
NAPA's depth is unmatched. With the world's largest ready-to-ship aftermarket parts availability, more than 6,000 retail stores and 9,500 AutoCare Centers nationwide, the addition of new e-commerce capabilities positions NAPA as a one-stop shopping site for all car ownership needs. The opening of NAPA's virtual store complements and enhances current retail operations by not only generating Internet sales, but also driving traffic to NAPA stores for help and advice.
NAPA is relying on 75 years of experience and relationships to reach out to a new generation of customers by combining the ease of online shopping with the convenience of neighborhood NAPA AUTO PARTS stores. The Company's goal is to create the same positive customer experience online that is encountered at NAPA stores while sharing its knowledge and service with the site visitor.
In preparation for the full-scale launch of this business and to provide GPC's customers with the quality service they are accustomed to at NAPA, the Company has established a fully-staffed customer service center to assist online shoppers. In addition, GPC will accept all product returns at participating NAPA AUTO PARTS stores or by UPS, using return labels provided with the delivered product.
Genuine Parts Company is a distributor of automotive replacement parts in the U.S., Canada and Mexico. The Company also distributes industrial replacement parts in the U.S., Canada and Mexico through its Motion Industries subsidiary. S. P. Richards Company, the Office Products Group, distributes product nationwide in the U.S. and in Canada. The Electrical/Electronic Group, EIS, Inc., distributes electrical and electronic components throughout the U.S. and Mexico. Genuine Parts Company had 1999 revenues of $7.9 billion and net income of $377.6 million.