Mike Rich is the VP of Marketing at RevolutionParts, an easy-to-manage solution that is helping car dealers revolutionize the way they sell and source auto parts.
In this episode of the Fixed Ops Roundtable, Mike shares findings from the RevolutionParts 2021 OEM e-commerce report.
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What Ted Ings and Mike Rich discuss in this episode:
01:20 - The OEM e-commerce report is released annually by RevolutionParts to review e-commerce trends over time to understand how the parts game has really evolved.
01:55 - In 2021 the industry saw a 30% increase in OEM parts growth ending the year with about $578 million in OEM parts sales.
03:57 - Mike expects to see some level of stabilization in the market moving through 2022 and beyond. RevolutionParts only expects to see an 11% growth rate in 2022 OEM parts sales, which contrasted to any other department in the store is still really exciting.
04:55 - The average age of cars on the road is 12 years old. That's the oldest they've ever been due to manufacturing shortages. As a result, consumers are interested in holding onto their vehicle for longer periods of time. That also means that consumers are interested in purchasing accessories for their vehicles.
11:26 - Dealers should be looking for ways to digitize their parts experience for customers; to streamline and make more accessible their parts catalog.
12:36 - Amazon currently is doubling down on OEM parts
14:55 - Mike shares that they've observed a 49% increase in mobile device parts purchases in the last year. That's an 8.4% increase from the previous year.
Listen to the full episode featuring Mike Rich for even more insights!
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Thanks, Mike Rich!
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