New SEMA Market Research Provides Insight into the
State of Specialty Equipment Retail
DIAMOND BAR, CA – October 31, 2019 – (Motor Sports NewsWire) – Eighty-three percent of automotive specialty-equipment retailers report stable or growing sales in recent years, dispelling reports of a “retailpocalypse” and showing that the more than 3,000 SEMA member retailers are primed for continued growth, according to the new SEMA Retail Landscape Research Report.
The Internet and ecommerce is becoming a normal part of the retail business, with many specialty automotive retailers selling products online or using the Internet to advertise and promote their businesses. However, retailers surveyed report that most 2018 sales were made through in-store purchases and believe that offering personalized advice to their customers is the key to helping them succeed in the future.
“The SEMA Retail Landscape Report shows that the heavily publicized death of traditional retail is greatly exaggerated,” said Gavin Knapp, SEMA Director of Market Research. “The positive news is that most retailers in our industry are doing well. While the Internet and ecommerce has impacted their businesses, savvy retailers are learning how to incorporate online sales into the mix and finding great success.”
For specialty-automotive retailers who find opportunity online, 54% sell products through their company’s website and 39% sell their products through an online marketplace such as Amazon, eBay, and Walmart.
The web and social media are vital for marketing with 81% of retailers using social media to market their business. Facebook and Instagram are the main, but by no means the only, platforms used while 71% of specialty auto retailers use their company’s website to advertise the business.
To learn more about the state of retail in the specialty automotive aftermarket and find insights that can help your business, download the “SEMA Retail Landscape Report” for free today at www.sema.org/research.
SEMA, the Specialty Equipment Market Association founded in 1963, represents the $44.6 billion specialty automotive industry. The industry provides appearance, performance, comfort, convenience and technology products for passenger and recreational vehicles. Association resources include market research, legislative advocacy, training and product development support, as well as leading trade shows such as the SEMA Show in Las Vegas, NV, and the Performance Racing Industry (PRI) Trade Show in Indianapolis, IN. For more information, visit www.sema.org, www.semashow.com, or www.performanceracing.com.
Source: Specialty Equipment Market Association