As aftermarket businesses enter the new year, the state of the American economy will be closely watched for sales and market planning. Fortunately, the latest SEMA research indicates considerable good news on the consumer front. In its recently released “State of the American Consumer” report, the SEMA market research department sees many positive signs that consumers are beginning to move past the COVID-19 hit the economy took in spring 2020.
Founded in 1938 and headquartered in Torrance, California, Edelbrock is a well-known industry name. Recently the legacy brand entered into a merger with the Comp Performance Group, although the two companies continue to operate as separate entities. Chris Douglas, Edelbrock Group chief commercial officer, described the company’s current product mix as evenly split between motorsports, the street and hot-rod scene, and the industrial segment. The company also sells through all channels, from mass merchandisers to direct-to-consumer e-commerce. Like other businesses, the manufacturer saw signs of uncertainty this past March, followed by hopeful indicators as the industry and consumers adapted to the obstacles imposed by the COVID-19 pandemic.
The entire world was thrown a curveball called COVID-19 in 2020. In order to survive, businesses have had to adapt by using various techniques, including implementing social-distancing measures or going completely virtual. SEMA’s councils and networks are no exception. We spoke with leaders of each organization to find out what initiatives they are working on, what’s currently trending in their markets, and the challenges they face in navigating today’s new normal heading into 2021.
Last September, the SEMA Data Co-op (SDC) announced that it had acquired PartsHub, a cloud-based product data management company that offers catalog management solutions designed to enhance a manufacturer’s ability to create and update industry-standardized product information, regardless of the manufacturer’s product data knowledge or expertise.
As a trade association, SEMA’s goal is to help aftermarket businesses of all types and sizes succeed and prosper. The following pages contain the names and brief contact information consistent with privacy considerations for SEMA-member companies as of August 20, 2020. This “SEMA Business Resource Guide” contains listings and company descriptions for SEMA-member companies that provide services in our industry, such as agencies, consultants and manufacturers’ reps.
For SEMA members, the SEMA Data Co-op (SDC) is a valuable asset for product data creation and management. Not only is the SDC the largest aftermarket industry data resource—it represents more than 500 brands with a collective inventory of more than 4.5 million parts—but also its unique approach to data management and file transfer can make exports available in any format a member requires. Whether the need is for complete PIES and ACES XML files or a custom-designed spreadsheet, the SDC can provide it.
There has been much concern about the economic ramifications for the aftermarket since the beginning of the COVID-19 pandemic in March, but ongoing SEMA market research indicates that an increasing percentage of industry manufacturers and retailers have been busy innovating, adapting, meeting and overcoming the challenges the situation presents. In fact, automotive specialty-equipment suppliers and resellers continue to express general optimism about their prospects going into 2021. (See “The SEMA 2020 Market Report,” p. 86.)
Despite the COVID-19 disruption, consumers are more confident, optimistic and in a better financial position today than they were during the Great Recession of 2007–2009. They are shopping more and, as restrictions ease, returning to in-store retail. In May 2020, retail sales at motor vehicle and parts dealers jumped 44% from April—the highest increase ever recorded. Additionally, most consumers think that now is a good time to consider buying a car.
Advanced driver-assistance systems (ADAS) have continued to work their way to the forefront of automotive technology, providing both a challenge and an opportunity to the specialty-equipment industry. Every year these safety-performance technologies are made available in greater numbers. The following listings include products now offered to owners of older-model cars who want to install safety performance devices.
SEMA is offering an online marketplace to allow manufacturers and resellers in the specialty automotive segment to connect and conduct business. Taking place November 2-6, SEMA360 was created after industry members expressed a need for a viable marketplace solution in the absence of the 2020 SEMA Show.