By Matt Kennedy
The “SEMA Industry Perspectives Report 2019” found that more than 90% of specialty-equipment businesses grew or maintained their customer bases in 2018.
Curious about the latest industry trends? Want to see how your own views compare with what other businesses are seeing? A recently-released report based on input from more than 800 specialty-automotive businesses found the following data:
- More than 90% of specialty-equipment businesses grew or maintained their customer bases in 2018.
- 73% expect to see their sales increase in 2019. Manufacturers are particularly optimistic, with even very small businesses (less than $2 million in revenue) expecting both their company and the industry to keep growing this year.
- Businesses report that on average, 65% of their sales are made in-store, and both online and brick-and-mortar sales grew in 2018.
- Independent retail and direct-to-consumer sales represent the industry’s fastest-growing channels, with independent specialty retailer/installers accounting for one-fifth of part sales alone.
Want to learn more about the state of our industry? Interested in seeing current and projected product trends? Check out the new “SEMA Industry Perspectives Report 2019” at www.sema.org/market-research.
If you haven’t already, also check out SEMA’s “Modern Muscle Car Accessorizers Report.” This new research shines a spotlight on people who own a modified late-model (’10 and newer) Mustang, Camaro or Challenger. The report gives an overview of how this key part of the specialty-automotive customer base goes about customizing their vehicles, their motivations and goals for doing so and how your business can connect with them. The report is available for free at www.sema.org/market-research.