By Ashley Reyes
The automotive specialty-equipment industry saw roughly even consumer sales through online and in-person channels in 2023, according to the "2024 SEMA Market Report."
Available at www.sema.org/research, the report offers insights into the size and scope of the $52.3 billion specialty-automotive industry, including information on where consumers shopped for parts and accessories last year.
"Our research found that auto parts chains with a physical location and online specialty retailers accounted for an equal percentage (13%) of aftermarket parts sales in 2023," said Matt Byun, SEMA market research manager. "Many consumers, especially young people, are also now embracing mixed-mode shopping with the rise of buy online and pickup-in-store options."
Individual product types vary greatly in their retail sales, however, various factors such as cost, complexity, size, ease of installation and local availability also impact where a given product type is likely to be bought. For example:
- Engine products are more likely to be sourced from specialized retailers, while more commoditized products like batteries and chemicals see sales mainly through traditional auto-parts chains.
- Restoring a classic car requires more specific parts not readily available at a local store, leading to searching for parts online.
- Less expensive, easier-to-install parts are more likely to be bought online, while complex or big-ticket products typically entail in-person advice or professional installation.
The "2024 SEMA Market Report" is free to SEMA members as a benefit of membership. SEMA members can download the report, along with a range of additional reports designed to help members make more informed decisions for their business, at www.sema.org/research.
Questions regarding SEMA Market Research can be directed to Byun at mattb@sema.org.