Stay in the know. Subscribe to Currents
CurrentTrends

Auto Sales Go Digital

1 Mins read

According to the Adtaxi Automotive Innovation and Consumer Trends study, the COVID-19 pandemic significantly boosted both automotive demand and reliance on digital tools.

Key findings of the report included:

  • Purchasing Goes Remote:49% of auto shoppers are comfortable making a significant purchase like a new or leased car without meeting an in-person sales representative. Broken out by age, 53% of auto shoppers 18-29 are comfortable, 60% of those 30-44, 46% of those 45-60, and 24% of those over 60 are comfortable skipping an in-person sales rep.
  • First Move: 57% of auto shoppers will first: visit a website, browse the internet, or send an email, 39% will reach out directly to the dealership (call, text, website, or email), and 30% will go to the dealership.

There’s more information in the report.

The Automotive Aftermarket

According to The NPD Group, there is also a lot of growth in the automotive aftermarket, which grew 18% from January through May of 2021.

Key findings:

  • The automotive aftermarket gained nearly 4 million new buyers in 2020 and had sales gains of 43% online and 7% in-store.
  • The most successful categories are automotive lighting, exterior accessories, battery accessories, interior accessories, appearance chemicals, tire and wheel accessories, motor oil, filters, towing and hitch, and light-duty shop equipment.

“The automotive do-it-yourself consumer landscape looks different today than it did prior to 2020,” says NPD. They advise taking the time to better understand the who, what, where, and why behind these changing consumer patterns. Consumers have changed their behaviors. That means future marketing, pricing, and promotion efforts need to change to address the significant shift in who is out there buying products in the aftermarket.”

Auto aftermarket stock photo by SERGFOTO/Shutterstock

Related posts
CurrentLead

Culture Shifts to Improve Worker Mental Health

2 Mins read
Some mental health programs require significant monetary investments (e.g. top notch health insurance) but there are cultural mandates that cost your company…
CurrentMoney

Empowering SMEs Through Adequate Access to Finance

3 Mins read
According to data from the World Bank, Small and Medium Enterprises (SMEs) account for about 90% of businesses in the world. Not…
CurrentMoney

The Impact of the Wayfair Decision on Small Businesses Four Years Later

3 Mins read
It’s been four years since the Supreme Court’s decision in South Dakota v. Wayfair, Inc. sent shockwaves through the country, and the…