The automotive e-commerce industry is booming, with a projected worth of $51.6 billion by 2018. Because there are so many online options for consumers to buy aftermarket and OEM auto parts and accessories, breaking into this growing trend and then sustaining profitability can be tough. For automotive business owners, e-commerce needs to be more than just a website.
If you’re wanting to take advantage of this growing online market, make sure to consider these tips on better automotive e-commerce:
- Research your market: In order to make sure you’re selling what your market wants, you need to take the time to review and research your target demographic. Look for or conduct your own detailed analytics, surveys or reports on your market to better understand what you can sell for a profit.
- Practice vendor management: Once you know what to sell, you’re going to have to get stock. This is where vendor management is key as you’ll need to attract big-name parts suppliers to ensure your inventory is filled at a reasonable rate. You should select your vendors through research, supplier identification, and price and contract comparison.
- Incentivize often: Shoppers go online not only for convenience, but for exclusive deals as well. If you’re not discounting parts or incentivizing consumers with free shipping or package deals, you won’t be able to break out from the competition. Consider periodic promotions to entice shoppers to pick your e-commerce site over the rest.
Adding e-commerce to your automotive business can be a great way to supplement your brick-and-motor income and increase your customer base in the process. Doing so however requires careful consideration and by partnering with Tint World, you’ll be able to have a powerful e-commerce site for all your automotive parts and accessories all while keeping your brand name intact.