As auto enthusiasts continue to embrace online shopping, the Auto Care Association and MEMA Aftermarket Suppliers have released the 2024 Joint E-Commerce Trends and Outlook Forecast report, providing insights into consumer purchasing of automotive parts and accessories through the online channel.
Unveiled at the 2024 AAPEX Show, the report offers in-depth analysis and forecasts to support the industry adaptation to consumer behavior for research and purchase of automotive parts and accessories, the companies stated.
Research and analysis for the 2024 Joint E-commerce Trends and Outlook Forecast were led by Jefferies, with a team of leading industry collaborators.
E-commerce sales have continued to grow post-pandemic as inflation pressures push consumers toward online channels while seeking lower costs. When third-party marketplaces are excluded, e-commerce sales grew 4.3% versus 2024 and at a compounded annual growth rate (CAGR) of 6.7% through 2027, studies show.
When complete sales for Amazon, eBay Motors and Walmart are included, total channel sales are projected to grow at a 6.7% annualized growth between 2020 and 2027.
“Readers will learn which product categories follow strong seasonal sales trends via e-commerce, which ones account for sales through Amazon, how much sales on Amazon surge in conjunction with promotional periods, and average cart size amounts for selected parts categories,” said Michael Chung, senior director, market intelligence, Auto Care Association.
Most automotive-focused e-commerce platforms have tools for consumers to ensure that the parts they order are compatible with a specific year, make, model, and trim—many even guarantee part fitment, reducing the risk for consumers purchasing online
“This research examines not only current consumer demographics, such as age, household income, vehicle mileage and vehicle age, but also forecasts when hybrid momentum may stabilize, allowing EVs to regain market share. Our partnership with the Auto Care Association keeps MEMA members well-informed to navigate these evolving consumer preferences and changing market conditions,” said Philip Atkins, director, strategic research and planning, MEMA, The Vehicle Suppliers Association.
MEMA Aftermarket Suppliers and Auto Care Association members can access the report as a membership benefit. Non-members can purchase the report here or here.
