NPD study offers insight on consumer spending
Industry research firm The NPD Group has offered an FYI synopsis on DIY (do-it-yourself) and DIFM (do-it-for-me) consumer spending.
NPD's Director of Industry Analysis, David Portalatin, presented the results of the group's 2010 Aftermarket Outlook, an annual survey that asks consumers about their anticipated automotive needs in the upcoming year.
The presentation covered both DIY and DIFM consumer spending expectations, and examined how economic trends are shaping consumers' attitudes.
Portalatin presented the study on Tuesday, Nov. 3 at the Venetian during the Automotive Aftermarket Product Expo, running Nov. 3-5 in Las Vegas, Nev. "The presentation was a forward-looking approach based upon the study results. We compared to past years' trends," Portalatin says.
With a broad industry scope, survey results appealed to "manufacturers, distributors, retailers and installers who want to gauge expectations for 2010," Portalatin says. "They will be able to benchmark consumers' attitudes and behaviors from the past and hear what consumers think about the coming year. This helps companies think strategically about growth through meeting consumers' needs in 2010."
The results helped explain how recent vehicle sales trends have impacted the aftermarket, and how these trends have affected consumers' anticipated vehicle purchasing behaviors in 2010.
The survey helps shed light on whether the poor economic environment has increased levels of DIY activity and how the DIY sector will fare going forward.
Consumers' vehicle spending habits going forward, consumer values and attributes that impact purchasing behavior were also all addressed and explained by Portalatin.


