SEMA eNews Vol. 22, No. 49, December 5, 2019

SEMA Market Research: Retailers Adapt to a Changing Landscape

By Matt Kennedy

  Market Research
According to the “SEMA Retail Landscape Report,” 79% of specialty-automotive retailers expect online sales growth to have a significant impact on the industry over the next few years.
   

Last year, nearly one-third of specialty-automotive parts sales were made online. And 79% of specialty-automotive retailers expect online sales growth to have a significant impact on the industry over the next few years. This growth is driven by changing consumer behavior. Customers now have more outlets to research specs, compare brands and purchase products than ever before.

As a result, many retailers are adapting to a customer base that is more informed about brands and products, more aware of price differences and may be less loyal to any retailer. Nearly two-thirds of retailers have added or grown their social-media presence to reach more customers effectively. And 59% find that providing advice and expertise offers a way to stand out in the market rather than competing on price.

To learn more about the key challenges and opportunities specialty-automotive retailers are facing, download the “SEMA Retail Landscape Report,” now available for free at www.sema.org/research.

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