By Matt Kennedy
Check out SEMA’s new “Industry Perspectives Report” to learn more about the state of the automotive specialty-equipment industry and view current and projected product trends.
Most specialty-equipment businesses agree that continuing to innovate and adapt is key to the industry’s success. Seventy-five-percent of manufacturers and retailers feel that keeping up with new technologies is a key concern for their businesses over the next few years. In fact, it may be even more important than controlling costs and attracting more young customers.
However, the industry remains optimistic. The majority of companies surveyed, including 85% of specialty-equipment manufacturers, reported they expected their sales to grow over the coming year.
When it comes to marketing their products, specialty-equipment businesses use a variety of channels. Social media is definitely growing in importance; it’s the single largest channel for retailers, and 70% of distributors, along with almost 90% of manufacturers, use it to promote their businesses. However, exhibiting at trade and auto events remain important parts of their marketing strategies.
Want to learn more about the state of the automotive specialty-equipment industry? Interested in seeing current and projected product trends? Check out SEMA’s new “Industry Perspectives Report” at www.sema.org/market-research.
For more information on the trends affecting the specialty automotive aftermarket, check out SEMA’s latest “Industry Indicators Report” to learn how movements in the broader economy may impact your business strategy. The monthly indicators reports are available for free at www.sema.org/market-research.