New report forecasts long-range aftermarket e-commerce growth opportunities
The Auto Care Association and the Automotive Aftermarket Suppliers Association (AASA) together commissioned the 2021 Joint E-commerce Trends and Outlook Forecast to provide the auto care industry with the insights needed to navigate the rapidly evolving industry. The COVID-19 pandemic’s effect on retail shopping in 2020 resulted in a rapid shift to e-commerce adoption in the auto care industry, with e-commerce sales of aftermarket parts and accessories (excluding marketplaces) projected to increase by 11.7% to more than $18 billion in 2021. E-commerce adoption in the automotive aftermarket has grown from 6.5% in 2018 to 12.1% in 2021, representing nearly a 100% increase.
This newly released report provides the latest data, trends and analysis on how these developments are expected to impact the automotive aftermarket; the data and projections in this report can be applied to all companies across the supply chain to inform long-term strategy and identify future growth opportunities. The 2021 Joint E-commerce Trends and Outlook Forecast report also contains analysis detailing consumer trends driving e-commerce growth; how to reach the online aftermarket consumer; the state of the automotive aftermarket; and more.
Research and analysis in the 2021 Joint E-commerce Trends and Outlook Forecast report was contributed by Jefferies, GCommerce, Hedges & Company, IHS Markit, IMR Inc., and M Science.
The 32-page 2021 Joint E-commerce Trends and Outlook Forecast report includes:
- A consolidated view of the e-commerce growth through the year 2025 covering e-tailers from Amazon to AutoZone to Walmart;
- How quickly the e-commerce market will grow year-over-year through 2025;
- E-commerce penetration growth in the automotive aftermarket for U.S. consumers and how it compares across industries;
- Exploration of the differing online purchasing behaviors by generation and demographic; and
- The impact of COVID-19 as an accelerant to e-commerce adoption.
“We saw the value of aftermarket products sold through e-commerce hit nearly $32 billion in 2020, and this number is growing for 2021,” said Bill Hanvey, president and CEO, Auto Care Association. “E-commerce growth across all retail providers and marketplaces will hit $47 billion by 2025.”“This study is the only place you will find this detailed forecast of consolidated e-commerce sales,” said Paul McCarthy, president and CEO, AASA.
Auto Care Association and AASA members receive complimentary access to these reports as a membership benefit. These reports may be purchased at the non-member price for $1,500 each and can be accessed instantly on the Auto Care Digital Hub at digital.autocare.org or on the AASA website at aftermarketsuppliers.org/resource.