As the COVID-19 pandemic subsides, it is having lasting impacts in a number of areas, some of them positive. One for example, appears to be the significant increase in e-commerce activity within the automotive aftermarket since the spring of 2020. This e-commerce explosion has amplified the need for more robust catalog content and data today.
In April of 2020, digital marketing agency Hedges & Co. issued results from extensive analysis of automotive parts and accessories websites in the U.S. and Canada, showing an unprecedented surge in online sales during the pandemic. A surge in sales spiked in mid-April 2020, coinciding with the receipt of tax refunds and federal stimulus checks. In the analysis, the company gave online sales from the week of March 1 an index of 100, before widespread shutdowns were in place. The week of April 12-18 had an index of 140, or a 40% overall increase in online sales of parts and accessories from six weeks earlier.
In yet another report, the firm shared that automotive parts e-commerce revenue hit $16 billion in 2020 in the US. Hedges & Co. projects that auto parts e-commerce market share will be over $22 billion by 2023. “Trends in online shopping are still accelerating in 2021 with consumers buying online at an unprecedented rate,” Hedges & Co. stated in its report.
With this explosion of e-commerce comes demand for more robust cataloging content. Catalog and data managers are working to fulfill…