[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.the-future-of-commerce.com\/2021\/11\/04\/automotive-aftermarket\/#BlogPosting","mainEntityOfPage":"https:\/\/www.the-future-of-commerce.com\/2021\/11\/04\/automotive-aftermarket\/","headline":"Automotive aftermarket e-commerce: A $1.38 trillion opportunity","name":"Automotive aftermarket e-commerce: A $1.38 trillion opportunity","description":"Automotive aftermarket projections are booming \u2013 meaning suppliers and distributors must activate e-commerce offerings to compete with big retailers.","datePublished":"2021-11-04","dateModified":"2024-06-13","author":{"@type":"Person","@id":"https:\/\/www.the-future-of-commerce.com\/contributor\/sebastien-trahan\/#Person","name":"Sebastien Trahan","url":"https:\/\/www.the-future-of-commerce.com\/contributor\/sebastien-trahan\/","identifier":358,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/76e1e778b02baed29b11556f1b573fcecb4055ff2f70639b7f3340b1c58387cd?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/76e1e778b02baed29b11556f1b573fcecb4055ff2f70639b7f3340b1c58387cd?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"The Future of Commerce","logo":{"@type":"ImageObject","@id":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2023\/01\/logo-foc-schema-app-1.png","url":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2023\/01\/logo-foc-schema-app-1.png","width":172,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2021\/11\/automotive-aftermarket-ftr.png","url":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2021\/11\/automotive-aftermarket-ftr.png","height":375,"width":1200},"url":"https:\/\/www.the-future-of-commerce.com\/2021\/11\/04\/automotive-aftermarket\/","about":["Auto",{"@type":"Thing","@id":"https:\/\/www.the-future-of-commerce.com\/commerce\/b2b\/","name":"B2B Commerce","sameAs":["https:\/\/en.wikipedia.org\/wiki\/B2B_e-commerce"]},{"@type":"Thing","@id":"https:\/\/www.the-future-of-commerce.com\/commerce\/commerce-general\/","name":"Commerce","sameAs":["https:\/\/en.wikipedia.org\/wiki\/Commerce","http:\/\/www.wikidata.org\/entity\/Q26643"]},{"@type":"Thing","@id":"https:\/\/www.the-future-of-commerce.com\/customer-experience\/customer-experience-general\/","name":"Customer Experience","sameAs":["https:\/\/en.wikipedia.org\/wiki\/Customer_experience","http:\/\/www.wikidata.org\/entity\/Q984142"]},{"@type":"Thing","@id":"https:\/\/www.the-future-of-commerce.com\/commerce\/e-commerce\/","name":"E-Commerce","sameAs":["https:\/\/en.wikipedia.org\/wiki\/E-commerce","http:\/\/www.wikidata.org\/entity\/Q484847"]},{"@type":"Thing","@id":"https:\/\/www.the-future-of-commerce.com\/e-commerce-solution\/e-commerce-general\/","name":"E-Commerce","sameAs":["https:\/\/en.wikipedia.org\/wiki\/E-commerce","http:\/\/www.wikidata.org\/entity\/Q484847"]},"Future of Supply Chain",{"@type":"Thing","@id":"https:\/\/www.the-future-of-commerce.com\/commerce\/industries\/","name":"Industries","sameAs":["https:\/\/en.wikipedia.org\/wiki\/Industry","http:\/\/www.wikidata.org\/entity\/Q2976602"]},"Industries",{"@type":"Thing","@id":"https:\/\/www.the-future-of-commerce.com\/commerce\/intelligent-enterprise\/","name":"Intelligent Enterprise","sameAs":["https:\/\/en.wikipedia.org\/wiki\/Intelligent_enterprise","http:\/\/www.wikidata.org\/entity\/Q6044119"]}],"wordCount":711,"articleBody":"Customers in the automotive aftermarket expect retail-quality online buying experiences. And companies from Amazon to Walmart have set the bar high, focusing on convenience with extensive product selections, consistent availability, and fast delivery.Automotive suppliers can take advantage of the same marketplace model and approach as the retail giants.By personalizing and digitalizing customer interactions, you can enhance and elevate the buying experience, improve enterprise agility and efficiency \u2013 and put the competition in the rearview mirror.      E-commerce for auto suppliers: Marketplace model transforms industry                The marketplace model is transforming industries, from e-commerce for auto suppliers to electric utilities. Discover the benefits + examples.      Automotive aftermarket: Trends and lasting impacts will transform the industryGlobal trends and changes are transforming the way work and commerce are done across industries and lines of business.The COVID-19 pandemic has, of course, had major economic impacts too. To see how the pandemic was affecting our customers, we looked at customer utilization rates of the SAP Commerce Cloud solution.Our analysis showed that online order volumes in weeks 8 to 13 of 2020 \u2013 which corresponded with the onset of the pandemic \u2013 were 69% higher than in the previous-year period.As recovery from the pandemic progressed, our continued analysis showed this trend nonetheless continued.Our customers\u2019 online order volumes were significantly higher from January to June 2021 than in the same period in the previous two years:47% increase in 2021 over 2020166% increase in 2021 over 2019Digital sales journeys are clearly becoming the new normal. Many buyers and sellers find online commerce experiences to be as effective as, and even preferable to, in-person transactions, and the business-to-business (B2B) e-commerce channel is growing fast.WOW factor: The $920 billion automotive aftermarket is expected to grow to $1.38 trillion by 2030.This content is hosted by a third party ( embed.podcasts.apple.com ).To view the content, either update your cookie preferences or view it in a new browser window.Cookie PreferencesNew WindowPersonalizing B2B commerceMarket trends go beyond online order volumes, with a wide range of impacts.Here are five important areas of change and actions to consider when it comes to the future of B2B:Consumerization and the B2B experience:\u2013 Personalize consumer experiences with B2B processes and best practicesDigitalization of complex buying and selling journeys:\u2013 Simplify processes and automate manual, repetitive, and time- and resource-intensive tasks to improve efficiency and productivity while reducing costs\u2013 Safeguard the supply chain for enhanced customer service and revenues\u2013 Improve workflows for order management, pricing calculations, and negotiations\u2013 Power innovation and scale to meet demand and support growthNew digital engagement models:\u2013 Empower people with personalized self-service portals that are available 24×7\u2013 Adopt new customer touchpoints quickly\u2013 Offer consistent sales and buying experiences across channels\u2013 Make it easier for customers to find, configure, and buy the right products with guided selling\u2013 Take advantage of intelligent capabilities for predictive product recommendations, up- and cross-selling, and moreDirect consumer access and interactions:\u2013 Adopt and create innovative strategies to interact directly with consumers\u2013 Take advantage of markets previously served indirectly while protecting existing channels\u2013 Improve transparency and get a better understanding of customers and their relationship with your brand and your organizationEvolution of business and service offerings:\u2013 Enrich traditional relationships with your customers through added-value services\u2013 Transition from selling products to providing solutions      Automotive subscription services: Car ownership steered a new way                A big shift in the attitude to car ownership is rounding the turn. If you can hail a car to take you anywhere at will, why do you need to own one? What subscription services will mean to the future of automotive.      More acceleration down the road for the automotive aftermarketWith the accelerating growth of e-commerce \u2013 which creates opportunities to modify business models and adopt new ways of interacting with customers \u2013 automotive suppliers and distributors face pressure to transform now.Retail giants are quick to fill gaps and expand their footprint into new industries like automotive \u2013 but the big retailers can\u2019t match the automotive experience + expertise of companies already established and successful in the industry.Automotive suppliers and distributors can gain a strategic advantage over big retailers \u2013 now it’s a race to see if they can convert on the experience.  Rev up revenue + customer loyalty.Discover how digital tech is transforming the auto industry HERE."},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"2021","item":"https:\/\/www.the-future-of-commerce.com\/2021\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"11","item":"https:\/\/www.the-future-of-commerce.com\/2021\/\/11\/#breadcrumbitem"},{"@type":"ListItem","position":3,"name":"04","item":"https:\/\/www.the-future-of-commerce.com\/2021\/\/11\/\/04\/#breadcrumbitem"},{"@type":"ListItem","position":4,"name":"Automotive aftermarket e-commerce: A $1.38 trillion opportunity","item":"https:\/\/www.the-future-of-commerce.com\/2021\/11\/04\/automotive-aftermarket\/#breadcrumbitem"}]}]