Market Insights with Mike: Positioning for Advocacy in a Changing Environment
By Camille Sheehan
BETHESDA, Md. – November 5, 2020 – This edition of Market Insights with Mike focuses on cutting through the noise of election predictions and instead examines the data most important to aftermarket professionals for continued success in an ever-evolving economy. Several trends have emerged across our society and industry in the midst of the COVID-19 pandemic and global lockdowns.
In the United States, shifts can be seen across consumer behavior with DIY activity; retail and front room aftermarket sales have grown; industry activity for vehicle and parts production experienced a drop and rebound; and business sentiment and industry outlook both took a dive but have seen a recovery since stimulus funding has been provided.
Understanding the ins-and-outs of how your business and the larger auto care industry are being impacted is key to having a meaningful relationship with elected officials. At the beginning of the pandemic, the Auto Care Association was able to impress upon Congress the importance of our industry through the use of hard data and concrete relationships. As the victors are declared and the election season comes to a close, the weeks following the election are an opportune time for Auto Care members to reach out to their newly elected or re-elected representatives to congratulate them on their success.
These issues examined in Market Insights with Mike will continue to persist well after the election. Remote advocacy, virtual legislation, employee rights legislation and other topics will continue to be salient.
To view the latest edition of Market Insights with Mike, click here.
About Market Insights with Mike:
Market Insights with Mike is a new series presented by the Auto Care Association’s Director of Market Intelligence, Mike Chung, that is dedicated to analyzing market-influencing trends as they happen and their potential effects on your business and the auto care industry.