Speed Parts Achieves Remarkable Growth by Leveraging Maropost's Technology

In a stunning display of growth and innovation, Speed Parts, one of Australia’s preeminent automotive parts retailers, has experienced a remarkable expansion, propelled by the advanced capabilities of Maropost. Since its inception in 2003, Speed Parts has evolved from a small local business into a dominant player in the online automotive parts market. The numbers are staggering: it has increased its stock-keeping units (SKUs) from 50,000 to over 700,000, a monumental accomplishment that reflects not only the retailer's ambition but also its effective utilization of technology.

A Transformation Story

The story of Speed Parts is one of transformation and adaptation. With a diverse portfolio that includes physical storefronts, multiple e-commerce platforms, and strong presence in marketplaces such as eBay, Kogan, and Big W, Speed Parts has positioned itself as a leader in the automotive retail sector. As Justin Tettis, Co-founder and Managing Director of Speed Parts, aptly put it, “Neto is like oxygen for our business.” This partnership has enabled the company to rapidly scale its operations, simplifying complex data management while significantly enhancing the customer experience.

Since 2018, Speed Parts has maintained an impressive revenue growth trajectory, consistently achieving over 20% annual growth. This performance has not only solidified its market position but has also earned it a spot among the top ten automotive parts resellers on eBay Australia—an impressive feat in a competitive landscape.

Technology as a Catalyst for Growth

The collaboration with Maropost has been a game changer for Speed Parts. Recognized for its AI-powered unified commerce platform, Maropost has empowered over 5,000 brands to streamline their operations and improve customer experiences. This technological backbone has been crucial for Speed Parts as it navigates the complexities of e-commerce. With Maropost's tools at their disposal, Speed Parts has built a robust ecosystem designed for growth.

Gordana Redzovski, APAC Managing Director and VP of Revenue of Maropost, commented on Speed Parts' success, stating, “Speed Parts is the perfect example of how Australian retailers thrive with the right technology.” The partnership has not only allowed Speed Parts to expand its SKU count but also to plan for even greater ambitions, including a return to Amazon and the launch of operations on Bunnings Marketplace, with an eye on surpassing one million SKUs soon.

The Road Ahead

As Speed Parts continues its upward trajectory, its commitment to customer satisfaction and market leadership remains unwavering. With 70% of its revenue now generated through e-commerce, the company is poised to tap into the ever-growing online shopping trend, exploring fresh opportunities in both local and international markets.

In conclusion, Speed Parts’ journey serves as a potent reminder of the impact that technology can have on retail businesses. By adopting innovative solutions and fostering strategic partnerships, retailers can unlock new growth opportunities and navigate the challenges of the modern marketplace effectively. With a strong foundation in place, Speed Parts is well-equipped to build on its successes and shape the future of automotive retail in Australia and beyond.