Emerging Trends in the Automotive Aftermarket Industry

August 18, 2017 | by | 0 Comments

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It’s a fantastic time to be one of the players in the automotive aftermarket industry. Experts project global sales to reach $722.8 billion by 2020. In 2017 alone, online parts sales are expected to eclipse $8.9 billion. Clearly, the demand for aftermarket car parts has been higher than ever. But still, you can’t expect customers to flood your shop without doing any legwork. To stay ahead of the competition, you must keep up with the latest trends in the auto replacement parts business.

The London government has taken initiatives to build an ultra-low emission zone, the first in the world. One example is the toxicity charge worth £10, imposed upon drivers of vehicles that fail to meet Euro 4 emission standards. Going forward, it’s natural to expect more car owners to place greater emphasis on preventive maintenance to ensure that they contribute to the green movement. Experts suggest that this trend will usher the steady growth of the auto parts industry, especially when it comes to replacements and repairs related to environment-friendliness.

What’s interesting is the fact that auto repair shops already account for 75% of aftermarket repairs, while the rest happens in dealerships. Consumers are turning to independent parts stores because of the high potential cost savings. Dealerships are notorious for their high price tags. Do-it-yourself aftermarket auto repair is also becoming a huge trend, spurred by online car parts sellers who provide affordable opportunities for car buyers to do simple repairs by themselves.

It also proves crucial for businesses to be the first to offer their service to potential customers. Research shows that 85% of consumers choose the first vendor to reach out to them. The key is in getting in front of your target market before anyone else does. Traditional marketing techniques can help, but boosting your digital presence is even more effective.

Without a solid online presence, any auto parts company will struggle in today’s business landscape. Virtually everyone turns to the internet to find information about car parts and suppliers. Increasing your exposure through various digital platforms including search engines and social media can fuel business growth. And since the competition has probably solidified their presence already, it’s imperative to find innovative ways to stand out such as sharing informative and entertaining videos.

E-tailing is another trend you can’t afford to miss. The convenience of online shopping should be afforded to your target audience. Selling car parts at your brick-and-mortar location may not be enough to keep your business afloat. E-commerce sales could be just what you need to pad your bottom line, especially when done in cohesion with your digital marketing efforts.

With Londoners showing overwhelming support for stricter emission standards, the demand for aftermarket parts and services will continue to grow. This presents an opportunity to boost sales, but it also means stiffer competition. By keeping up with the trends in the automotive industry, you can better formulate a marketing strategy, one that enables your brand to be the first to reach your target market and provide a compelling and relevant offer.

Category: Business

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