November 28, 2018 2:34 PM
Aftermarket E-tailing Channel Expected To Grow To $28B By 2020
The trend of buying aftermarket products online is increasing at a growth rate of three times more than the total aftermarket (excluding tires and accessories), according to a new report from the Auto Care Association.
The association says the auto care industry must adapt and evolve in order to win on the online superhighway, given the trends outlined in the research. To help the industry take advantage of this growth, the Auto Care Association has compiled new research in its latest report, “Disruptive Trends Shaping the Future of the Auto Care Industry: E-Tailing 2018.”
The 2017 e-tailing market, excluding tires and accessories, was $15 billion. The expected CAGR through 2020 is 9 percent.
Total e-commerce via public websites and e-procurement via proprietary systems for professionals is valued at more than $50 billion, and will grow much faster than the overall aftermarket through 2020, according to the report. Disruption to traditional brick-and-mortar distribution and the growth of consolidated e-tail channels could bring pricing pressure and transparency, but also bring new opportunities for growth.
The new report provides a comprehensive analysis of DIY and DIFM customer behavior, the implications of the e-tailing penetration in the auto care industry and strategies to avoid price erosion and disruptions. The report also includes research on:
In addition, the report includes a teaser on three additional digital disruptors that are projected to create a transformative $30 billion opportunity in the auto care industry by 2030. These disruptions will be detailed in future reports under the “Disruptive Trends Shaping the Future of the Auto Care Industry” series.
The digital report is now available to Auto Care Association members for $499 and to non-members for $1,599. To learn more or to purchase this publication today, visit digital.autocare.org/etailing2018.
This article was published by aftermarketNews Staff at the AMN aftermarketNews website.