LAS VEGAS – If retailers have learned anything from the pandemic, it’s that more and more consumers, especially the younger generation, are increasingly embracing online shopping, also known as e-commerce.
According to a new report on e-commerce presented by the Auto Care Association (ACA) and the Automotive Aftermarket Suppliers Association (AASA). ), “The dynamics of e-commerce are shaping the future of the aftermarket.”
The main findings of the joint trends and outlook forecasts include:
- In 2021, the online channel continued to experience rapid growth, albeit slightly decelerating from the 30% growth recorded in 2020, driven by more aftermarket consumers turning to the market for the first time. times to the e-commerce channel;
- Suppliers and retailers need to understand and prepare for the distinct buying journeys of Baby Boomers versus Millennials and Gen Z shoppers;
- Suppliers and retailers must recognize that the online channel will become more and more important (online research before purchase), especially as the number of millennials and Gen Z gradually takes the share purchase of traditional channels; and
- Industry participants with a strong online brand presence are in the best position to capture the “new” aftermarket online consumer – who is younger and richer compared to their in-store shoppers peers.
The e-commerce channel is now one of the fastest growing automotive aftermarket segments, with online sales of aftermarket parts and accessories in 2021 expected to exceed $ 18 billion, according to The report.
E-commerce adoption increased from 6.5% in 2018 to 12.1% in 2021, according to the study.
The study noted that retailers accelerated their plans to serve customers with digital solutions by upgrading e-commerce sites and adding shopping options, such as curbside pickup, plus delivery. fast and the BOPUS (online store pickup purchase).
Exhaust system, brake system and filtration are categories that have seen continued growth from the Internet channel through 2021, “a trend further illustrating that consumers are actively turning to the online channel,” even though COVID-related restrictions are relaxed, ”the report said.
The report says about 53% of online shoppers start their buying journey by visiting a website to do research, a trend that has continued from 2018 to 2021.