VOXX International Corporation Launches New E-Commerce Platform to Support Anticipated Growth and Drive Customer Satisfaction

Rhea-AI Summary

VOXX International Corporation (NASDAQ: VOXX) announced the launch of a new e-Commerce platform, starting with Premium Audio Company. This initiative aims to enhance customer experience by improving data aggregation, operational support, and visibility. Key features include reduced call times for customer service, simplified checkout, and more payment options such as Amazon Pay. CEO Pat Lavelle emphasized the importance of having robust infrastructure to support growth and customer satisfaction, leveraging this new platform for future e-Commerce initiatives worldwide.

Positive

• Launch of a new e-Commerce platform aimed at improving customer experience.
• Integration of customer service tools to enhance response times and resolutions.
• Expanded payment options, including Amazon Pay, simplifying the checkout process.
• Potential for future platform expansion across other e-Commerce initiatives.

Negative

• None.

ORLANDO, Fla., Sept. 19, 2022 /PRNewswire/ -- VOXX International Corporation (NASDAQ: VOXX), a leading manufacturer and distributor of automotive and consumer technologies for the global markets, today announced the launch of a new e-Commerce platform, with the first official roll-out at Premium Audio Company, the subsidiary operating some of the industry's most trusted brands including Klipsch®, Jamo®, Onkyo®, Integra® Pioneer®, Elite, Magnat®, and Heco®.

This project has been underway for quite some time as the Company has been looking at all aspects of its consumer-facing assets to improve the customer experience. While customer satisfaction is high, the Company saw ways to transition to a newer, more consumer-friendly platform that would improve visibility, data aggregation, and various operational support functions. This new platform is capable of supporting all e-Commerce initiatives throughout the Company's global footprint. Premium audio brands covered as part of this initial roll-out include Klipsch, Jamo, Onkyo, Pioneer, Elite, Magnat, Heco and TEAC.

"We continue to add strong brands with loyal, long-standing customers. As we grow organically and continue to acquire and integrate, it's essential that we consider all customer touch points and have the best infrastructure in place to support them," stated Pat Lavelle, President and CEO of VOXX International Corporation. "Our new e-Commerce platform will improve call times, data collection, routing, shipping information, and more, and most importantly, lead to better customer satisfaction at the point of sale and the post-sale experience."

Premium Audio Company has integrated new tools and features into its platform that will be leveraged by customer service representatives when answering support calls or through live chat. New tools have been instituted for customer service representatives, fully integrated with operations, which will improve visibility, reduce call times and improve resolution. Additionally, the checkout experience has been simplified, new eWallet features have been added, and now consumers have more payment options with the addition of Amazon Pay.

Lavelle added, "You have to provide customers with the best experience and foresee issues before they arise. This is a corporate-wide initiative starting with Premium Audio Company given their iconic consumer brands and loyal customer base, and the volume of business this represents for VOXX now and into the future. We have the ability to leverage this platform across any of other e-Commerce platforms in the future and will continue to invest in our business to drive positive experiences with VOXX and our brands."

About VOXX International Corporation 
VOXX International Corporation (NASDAQ: VOXX) has grown into a leader in Automotive Electronics and Consumer Electronics, with emerging Biometrics technology to capitalize on the increased need for advanced security. Over the past several decades, with a portfolio of approximately 35 trusted brands, VOXX has built market-leading positions in in-vehicle entertainment, automotive security, reception products, a number of premium audio market segments, and more. VOXX is a global company, with an extensive distribution network that includes power retailers, mass merchandisers, 12-volt specialists and many of the world's leading automotive manufacturers. For additional information, please visit our website at www.voxxintl.com.

About Premium Audio Company
Established in 2020, Premium Audio Company is the most innovative, complete and premium audio solutions provider in consumer technology. We connect people to their passion for entertainment. Premium Audio Company includes some of the most legendary and revered brands in the world — Klipsch, Jamo, Onkyo, Integra, Pioneer, Elite, Magnat, and Heco. Premium Audio Company, LLC is a wholly owned subsidiary of VOXX International Corporation (NASDAQ: VOXX).

Safe Harbor Statement
Except for historical information contained herein, statements made in this release constitute forward-looking statements and thus may involve certain risks and uncertainties. All forward-looking statements made in this release are based on currently available information and the Company assumes no responsibility to update any such forward-looking statements. The following factors, among others, may cause actual results to differ materially from the results suggested in the forward-looking statements. The factors include, but are not limited to the: risk factors described in the Company's annual report on Form 10-K for the fiscal year ended February 28, 2022, and other filings made by the Company from time to time with the SEC. The factors described in such SEC filings include, without limitation: the impact of the COVID-19 outbreak on the Company's results of operations, global supply shortages and logistics costs and delays; cybersecurity risks; risks that may result from changes in the Company's business operations; our ability to keep pace with technological advances; significant competition in the automotive electronics, consumer electronics and biometrics businesses; our relationships with key suppliers and customers; quality and consumer acceptance of newly introduced products; market volatility; non-availability of product; excess inventory; price and product competition; new product introductions; foreign currency fluctuations; and restrictive debt covenants. Many of the foregoing risks and uncertainties are, and will be, exacerbated by the COVID-19 pandemic, the War in the Ukraine  and any worsening of the global business and economic environment as a result. The Company assumes no obligation and does not intend to update these forward-looking statements.

Investor Relations Contact:                                                        
Glenn Wiener, GW Communications (for VOXX)
Email: gwiener@gwcco.com

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SOURCE VOXX International Corporation

FAQ

What new initiative did VOXX International announce on September 19, 2022?

VOXX International announced the launch of a new e-Commerce platform aimed at enhancing customer experience.

How will the new e-Commerce platform benefit VOXX customers?

It will improve customer service response times, offer more payment options, and enhance overall satisfaction.

Which subsidiary's e-Commerce platform is being rolled out first?

The first roll-out is at Premium Audio Company, which operates well-known audio brands.

What are some features of the new e-Commerce platform?

Features include reduced call times for customer service, a simplified checkout process, and integration of Amazon Pay.

What is the significance of the new e-Commerce platform for VOXX's future?

It serves as a robust infrastructure supporting anticipated growth and improved customer engagement across its global footprint.