Las Vegas, NV, July 15, 2021 – McapMediaWire –– 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 ecommerce 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 we can be to the automotive parts industry what Wayfair has become to home goods and what Chewy is to pet products,” continued Christopher.
About The 4Less Group, Inc.
Building off the knowledge and continued success of their present e-commerce website, liftkits4less.com, that targets the aftermarket automotive parts for Jeep Truck and SUV vehicles, The 4Less Group, Inc. (www.the4lessgroup.com) is now focused on launching what they believe to be one of the world’s first automotive parts only multi-vendor marketplace under the brand AutoParts4Less.com. The projected beta site launch will begin in late August 2021.
CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements, including information about management’s view of the Company’s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words “believes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. Such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that its forward-looking statements will prove to be correct. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Factors that could cause results to differ include but are not limited to, successful performance of internal plans, product or services development and acceptance, the impact of competitive services and pricing, or general economic risks and uncertainties. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. No information in this press release should be construed in any way whatsoever as an indication of the Company’s future stock price, revenues, or results of operations. The Company takes no obligation to update or correct (i) its own forward-looking statements, except as required by law, or (ii) those prepared by third parties that are not paid for by the Company.
For more information, contact: