New Report Forecasts Long-Range Automotive Aftermarket Industry Growth Opportunities in E-Commerce
By Camille Sheehan
Auto Care Association and AASA release new joint report providing forecasts and analysis of new technologies impacting the auto care industry
BETHESDA, Md. and RESEARCH TRIANGLE PARK, N.C. – November 17, 2021 – The Auto Care Association and the Automotive Aftermarket Suppliers Association (AASA) together commissioned the 2021 Joint E-commerce Trends and Outlook Forecast to provide the auto care industry with the insights needed to navigate the rapidly evolving industry. The COVID-19 pandemic’s effect on retail shopping in 2020 resulted in a rapid shift to e-commerce adoption in the auto care industry, with e-commerce sales of aftermarket parts and accessories (excluding marketplaces) projected to increase by 11.7% to more than $18 billion in 2021. E-commerce adoption in the automotive aftermarket has grown from 6.5% in 2018 to 12.1% in 2021, representing nearly a 100% increase.
This newly released report provides the latest data, trends and analysis on how these developments are expected to impact the automotive aftermarket; the data and projections in this report can be applied to all companies across the supply chain to inform long-term strategy and identify future growth opportunities. The 2021 Joint E-commerce Trends and Outlook Forecast report also contains analysis detailing consumer trends driving e-commerce growth; how to reach the online aftermarket consumer; the state of the automotive aftermarket; and more.
Research and analysis in the 2021 Joint E-commerce Trends and Outlook Forecast report was contributed by Jefferies, GCommerce, Hedges & Company, IHS Markit, IMR Inc., and M Science.
The 32-page 2021 Joint E-commerce Trends and Outlook Forecast report includes:
- A consolidated view of the e-commerce growth through the year 2025 covering e-tailers from Amazon to AutoZone to Walmart;
- How quickly the e-commerce market will grow year-over-year through 2025;
- E-commerce penetration growth in the automotive aftermarket for U.S. consumers and how it compares across industries;
- Exploration of the differing online purchasing behaviors by generation and demographic; and
- The impact of COVID-19 as an accelerant to e-commerce adoption.
“We saw the value of aftermarket products sold through e-commerce hit nearly $32 billion in 2020, and this number is growing for 2021,” said Bill Hanvey, president and CEO, Auto Care Association. “E-commerce growth across all retail providers and marketplaces will hit $47 billion by 2025.”
“This study is the only place you will find this detailed forecast of consolidated e-commerce sales,” said Paul McCarthy, president and CEO, AASA.
Auto Care Association and AASA members receive complimentary access to these reports as a membership benefit. These reports may be purchased at the non-member price for $1,500 each and can be accessed instantly on the Auto Care Digital Hub at digital.autocare.org or on the AASA website at aftermarketsuppliers.org/resource.