Undeterred by a sluggish economy brought on by COVID-19, demand for classic-car restoration is still soaring, and it’s likely to continue as long as parts suppliers can keep up. The clients are typically “car people” and are faithful to a particular make and model. While there are still those who insist on accurate restoration of classic cars, growth is to be found in those who want to retain the classic-car look but are thirsty for modern performance upgrades that improve drivability and promote individualism.
Even in the early days of the COVID-19 pandemic, the aftermarket was rolling up its sleeves for business. For operations able to stay open under essential-business declarations, that meant adopting the latest best practices in coronavirus mitigation. For those unable to stay open, it meant crafting innovative strategies to weather the lockdown until the green light came to reopen. Now that the economy is shifting into recovery mode, businesses in the latter category may be asking what “safely reopening” means. How can they best protect the health of employees and customers alike?
The COVID-19 pandemic caused many companies to scale back production or reduce operating hours, and it’s clear that consumers are looking for greater safety and security in their lives as the industry moves toward recovery. Based on information gathered from a variety of sources, the consensus is that the companies that are best positioned to deliver those attributes while still reliably delivering the products and services their customers depend on will have a unique opportunity to build upon and even expand their brand awareness in the coming years.
For most builder-enthusiasts, car-care and restyling products are among the most indispensable tools for customizing a vehicle. They can provide added measures of protection for paint, glass and chrome. They can lend upgrades to interior comfort and optimize exterior shine. Many of the most popular products can be purchased without breaking the bank. They’re available nearly everywhere that auto parts are sold—and even some places they’re not, such as in neighborhood car washes or convenience stores.
Between April 1 and April 7, 2020, SEMA conducted a survey of more than 2,000 people employed in the specialty-equipment industry. The results show that even in these difficult times, our industry is resilient and working diligently to move past this disruption.
There was a day when the foundations of the automotive aftermarket rested entirely on print publications, but now communications channels have evolved to take advantage of the faster, two-way interactions that the internet has enabled. Social-media marketing has become a necessity, and “media influencers” have become part of the picture. And given the challenging economic currents the industry is now navigating, social media and the potential of influencer collaboration presents a growing opportunity. In fact, those influencers could well play a critical role as aftermarket businesses look to recover from the coronavirus-induced slump that began last March.
The sudden outbreak of the COVID-19 novel coronavirus has forced many companies to alter and adjust their existing business models. Brick-and-mortar retailers are adjusting to a reduction in consumer foot traffic, companies are developing new ways to maintain their customer relationships, and marketing and advertising strategies are being refocused to take advantage of a growing consumer interest in online purchasing.
Ted Wentz III, CEO of Quadratec Inc., has been elected to the 2020–2021 SEMA Board of Directors in the Distributor/Retailer category. He will replace outgoing Board member Greg Adler of Greg Adler Motorsports, effective in July.
As the pandemic unfolded, SEMA quickly created a webpage at www.sema.org/coronavirus to help its members navigate the unprecedented challenges of COVID-19. This resource is a one-stop shop for information on how to secure loans, keep workers on payroll, understand the rules for maintaining safe workplaces and more. The Coronavirus Updates and Resources webpage will continue to be an important way to stay up-to-date with the latest news as new information becomes available. Members are encouraged to bookmark the page to follow these topics.
Although the COVID-19 pandemic set back the American economy beginning in March, it was encouraging that American consumers spent more time than ever online—an increased habit that’s likely to stick for some time.