Auto parts ecommerce: how to remain competitive in a multibillion-dollar market?
By 2029, worldwide ecommerce sales in the online auto parts and components market are estimated to top an impressive USD 213 billion. This surge in digital commerce is not surprising, considering the significant strides made in recent years, mainly due to the COVID-19 pandemic.
For instance, eBay Motors brought in approximately USD 12 billion in revenue in 2021, and Amazon managed to sell USD 8.3 billion worth of auto parts and accessories in 2020. As consumers increasingly rely on online research and purchases, the trend of online auto parts and components sales shows no signs of slowing down.
But what does this mean for businesses in auto parts ecommerce? What kind of opportunity do online distributors have to gain a competitive edge in this booming market? In reality, distributors are sitting on a goldmine of assets just waiting to be exploited, and these assets are their data.
In addition to this data, distributors can bring additional value to customers beyond what the marketplace can offer to remain competitive by creating a better customer experience.
How auto parts ecommerce distributors can maintain a competitive edge over online marketplaces?
To stay ahead, distributors must employ effective strategies to maintain a competitive edge and thrive in this ever-growing and challenging landscape.
Harnessing the power of data
Transforming existing data, such as SKUs, into searchable information accessible across multiple channels, including a company’s online store and marketplaces, can create more significant opportunities to gain market share.
This approach enables companies to enhance their online presence, offer comprehensive product information, and improve discoverability. By leveraging this searchable data, companies can expand their reach, attract more customers, and compete effectively with marketplaces, creating a more equitable competitive landscape
Simplifying part searches for a better customer experience
Enable consumers to quickly find the parts they need by implementing search functionalities based on year, make, model, and engine (YMME), as well as parts IDs and fittings.
By incorporating these search options, the browsing process can be streamlined, allowing customers to quickly locate the parts compatible with their vehicles. This user-friendly approach enhances the overall user experience. In addition, it sets distributors apart from marketplaces that lack these in-depth customized search capabilities.
Delivering in-person service excellence online
Even online, customers expect the same level of support and attention as they would receive from a sales associate. To achieve this level of service, offering comprehensive tools, including step-by-step instructions and engaging how-to videos, can help replicate the helpful guidance of in-person interaction. Offering value-added services not only ensures customer satisfaction but also establishes trust and is the first step in building lasting relationships
Ensuring a seamless checkout experience
During emergencies, car components are sometimes ordered to get a vehicle back on the road as quickly as possible. In these situations, clients demand quick, prompt and attentive services. Companies can prioritize safe and rapid delivery services and implement tracking systems to increase the chance of customers returning for future purchases.
Solutions to empowering auto parts distributors to excel
With an extensive catalogue boasting hundreds of thousands of items, the key lies in making every product easily searchable and seamlessly integrated with inventory and pricing systems.
Here are two available solutions companies can implement to present this data in a clean and cohesive manner:
eCatalog database
A parts catalog database based on ACES & PIES like WHI solutions or Olyslager is a searchable and an API based digital catalog of products, including product descriptions, images, YMME compatibility and pricing.
Product Information Management (PIM)
A PIM (Product Information Management) software application centralizes and manages product information on multiple channels from a single location. PIM systems offer solutions, particularly for sites with large catalogues, by streamlining workflows for creating, approving, and distributing product data. A PIM solution can enhance the customer experience by delivering up-to-date descriptions and efficiently offering to upsell kits and bundles across all touchpoints.
Pro Tip: Akeneo, is a PIM system that can efficiently store and control crucial product data, including descriptions, specifications, images, and pricing. Additionally, it empowers auto parts ecommerce businesses to streamline product workflows, such as approval and release processes, ensuring seamless product information management.
To learn more about the functionalities of a Product Information Management system, download our comprehensive PIM white paper. If you’re interested in learning how to implement a PIM solution for your ecommerce, contact O2 Web and let us help you leverage this powerful technology.
Learn more on how to boost your auto parts ecommerce business: download our eBook
In today’s competitive industry, staying ahead requires more than just listing products on online marketplaces. Auto parts ecommerce distributors can gain a significant competitive edge by leveraging their existing data, offering a seamless customer experience and adopting a customer-centric approach across multiple touchpoints.
To learn more and how to capitalize on emerging trends, we invite you to download our compelling eBook: “Boost Your Ecommerce: Trends and Opportunities in the Automotive Component Business“. Gain valuable insights and unlock new avenues of growth in this dynamic industry.
