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Roughly 20% of revenue made in the automotive industry comes from aftermarket parts. As of 2020, the aftermarket industry reached $383 billion dollars; $282 billion of which is comprised solely of light-duty vehicles. In addition, personal consumption of auto parts in June 2020 reached an all-time high of $50.5 billion. People are always looking for ways to save money when it comes to repairs, replacements or adding additional features to their vehicles. So, where do they go?
Many will head over to their local automotive shop, looking for a quote and quite possibly a deal. Normally, they’ll come to find it’s rather expensive to have work done, when parts and labor are involved. If they want to cut out the potential high cost of parts supplied by their local shop, they’re forced to look elsewhere: online. eBay, Amazon and other web-based reselling platforms are the easiest way to find whatever they need. For those who aren’t experts in knowing exactly what part(s) are required, they rely on these resellers to provide them with the right fitment. There are currently over 500,000 independent manufacturers, distributors and retailers of aftermarket parts across 50 different states.
This is where a problem presents itself. The industry is booming, but the market is heavily saturated. To successfully resell aftermarket parts in the online world, you need to be able to provide what customers need better than your competition.
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For online automotive and powersport part sellers, choosing the right marketplace to showcase their products is crucial. With numerous options available, it can be challenging