With just four weeks to go, we can report that the 2019 SEMA Show is going to be an outstanding opportunity for industry buyers and sellers to do business. As in past years, exhibitor participation is stretching the limits of the facility. The Las Vegas Convention Center floorplan is packed with a remarkable array of companies representing every industry segment—and emerging new trends within those segments.
Preparations for the 2019 SEMA Show are in full swing, and staff just delivered our annual Exhibitor Summit—a two-day info-fest to help new AND seasoned exhibitors learn how to capture maximum value from the SEMA Show. How do we know what makes up a successful Show strategy? You give us the answers—through post-Show surveys completed annually by thousands of SEMA Show buyers and exhibitors. These surveys help us stay current with the objectives of buyers and sellers, identifying trends and seeing where buyers and exhibitors are aligned—and sometimes misaligned. Below are some top examples where exhibiting manufacturers may be missing the mark—and how to get on target.
One of SEMA’s key services is to protect the industry and enthusiasts from unreasonable state and federal regulation. SEMA maintains a team of government affairs experts in Washington, D.C. While SEMA’s D.C. team is our industry’s first line of defense, it’s actually you, the SEMA members, who are the greatest force in our legislative arsenal. And as the headline above notes, if you’re not in the hunt, there’s a good chance you’ll be in the crosshairs.
We’ve written before about the industry-wide challenge posed by advanced driver assistance systems (ADAS) and how such systems present both opportunities and challenges for the specialty aftermarket. Consumer demand and the opportunity for car makers to distinguish their newest models is driving rapid deployment and, indeed, the systems are bringing significant real-world benefits by reducing injuries and accidents.
There’s no longer any doubt that better digital product information sells more parts. A recent SEMA market study reported that 86% of automotive accessorizers used online sources to research their parts purchases. And broader market studies show that strong product data increases the frequency of sales, positively influences the amount of each sale and drives brand loyalty.
It’s been about a decade since our industry last coped with a serious recession. Some say there will be a downturn in the next year or two, although that sentiment has been in the forecast for several years now. Current economic indicators are still pointing in the right direction, and a recent SEMA poll found that most member businesses are predicting that 2019 will be another successful year. Our industry and the association learned much from the last downturn. The lessons learned are worth highlighting, because they represent opportunities even today.
In 2006, the SEMA Board of Directors reviewed the vehicle technology landscape and the potential role the association could play to assist members. The outcome was the establishment of a new department—Vehicle Technology—and a vice president position located in Detroit to lead the association’s efforts.
Look back at early issues of SEMA News and its predecessors, and it’s easy to see that our industry has perpetually been concerned about awakening and inspiring a next generation of car and truck enthusiasts. The ability to capture the youth market is a focus for many industries simply because future success often depends on it. Because young people are open to new ideas and are still developing preferences and identities, the youth demographic offers the possibility of lengthy attachment to a brand, a product or a lifestyle. In addition, young people have significant collective buying power, are often trendsetters, and they influence other demographic groups.
Election season is over, and SEMA is now focused on the new legislative sessions in Washington and state capitols across the nation. Heading into 2019, this column provides a brief update on some key federal initiatives.
With the 2018 SEMA Show in the books, the industry collectively turns to follow-up. For exhibitors and buyers, pursuing leads and contacts from the Show can lay the foundation for a successful year ahead. Likewise here at SEMA, the weeks following the Show are filled with post-Show assessments, including gauging where the industry is headed.
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