Who Are Accessorizers chads Thu, 12/01/2022 - 21:06
Last year was a record year for the specialty-equipment industry, with U.S. retail sales hitting $50.9 billion for the first time. But who are accessorizers? Accessorizers skew young. In 2021, more than half were under 40. Younger accessorizers are more likely to be enthusiasts and tend to make more complex modifications. Accessorizers are also more likely to own pickups, SUVs and sports cars than non-accessorizers. Pickup parts remain big business for our industry and accounted for 31% of retail sales in 2021. Accessorizers are also almost twice as likely to own recreational or offroad equipment as non-accessorizers.
It’s no secret that overlanding has been one of the fastest-growing segments in the automotive aftermarket, and as it has gained popularity over time, the market has diversified. This can be seen in the types of vehicles employed as build platforms. Once dominated by midsize Toyotas, the overlanding segment has grown to include Jeeps and, increasingly, fullsize HD pickups with their superior load-carrying capability.
Many employees hear things like “the company’s for sale” or “we’re being sold to a private-equity firm” and conjure up an image of Michael Douglas playing the role of Gordon Gekko, the ruthless slick-haired Wall-Street tycoon. They see the man who said “greed is good” taking over their company, firing everyone and counting the checks after he sells the business.
The laws and regulations that govern SEMA members affect the way automotive specialty-equipment products are made, distributed, and marketed. The responsibility of the SEMA government affairs office is to stay on top of all relevant state and federal legislation and regulations and advocate for industry positions to ensure the best possible outcome for SEMA’s membership. The following are a few examples of critical legislative/regulatory issues addressed by the SEMA government affairs team over the past year.
10 Questions for Duran Morley chads Thu, 12/01/2022 - 18:55
At age 17, Duran Morley was involved in a high-speed motorcycle accident. “My motorcycle caught fire,” he said. “I’m lucky to be alive.”
Auto-Transcription of Video Meetings chads Thu, 12/01/2022 - 13:08
AI transcription of video meetings has gotten so good, many workers have completely abandoned the idea of taking notes during meetings, entrusting that task—and more—to artificial intelligence.
Thirty-five SEMA members from 18 companies spent a week in Stockholm, Sweden, this past summer networking with trade buyers from throughout Europe. The week included exhibiting at two events—one trade-only and the other a large consumer and trade event hosted by one of Sweden’s largest distributors.
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