Time to Buckle Up for Online Automotive Aftersales

OEMs can be market makers in the ecommerce space

Marketplaces don’t just happen – they are created by market makers and populated by market takers, to use the terminology of Andy Hoar in Paradigm B2B. But everybody can win. Forward-thinking aftermarket makers understand that customer purchasing habits are changing and are responding to new opportunities. They are collaborating and reshaping the aftermarket into marketplaces with the brand and product selections that customers seek. Customer-centric online platforms are making a huge impact on auto parts and accessories.

This is only the beginning.

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Read more to learn why global post-sale auto e-commerce is projected to surpass $135 billion by 2026.

How To Capitalize on Explosive Growth

The entire U.S. aftermarket includes 535,000 individual businesses, including independent manufacturers, repair shops, distributors, marketers, and retailers who serve 280+ million light, medium and heavy-duty vehicles registered in the U.S. today.

Automotive ecommerce programs must be marketplace ready. They can achieve this with supplier order management systems that consolidate dealer and retailer orders, fulfillment, and commissioning. This way, brands can easily add relevant products and reach more customers without adding bricks, mortar, or warehouses.

Benefits to market makers of setting up an aftermarket marketplace:

Quickly and easily adding new products and services from a myriad of third-party sellers
Creating a one-stop-shop for everything your customers need in a single location to drive convenience and preference
Significant new customer acquisition
Becoming essential to customers

Participating in new ecommerce marketplaces will enable aftermarket businesses to grow and become more competitive. Shoppers prefer online platforms where many different brands and products are conveniently placed together. These marketplaces feature not only the site owner’s products, but also complementary products offered by third-party sellers.

“A huge driver for the growth of commerce marketplaces is convenience,” observes Amit Shah, Chief Strategy Officer at VTEX. “Because marketplaces are one-stop shops for a large number of products – those that complement one another, and products that are frequently purchased together.”

Auto and truck aftermarket brands can work together with strategic partners to create dynamic marketplaces. High customer satisfaction associated with collaborative marketplaces could boost future aftermarket sales well beyond the sale of a new or used vehicle.

The Moment Is Now

The automotive industry must focus on where customers want to shop, not just where companies want them to shop. Ecommerce platforms are positioned for rapid growth and time-to-revenue that will benefit the aftermarket accessory and parts. Manufacturers and dealers must take a bold leap, forge new alliances and new partnerships to collaboratively own the moment.