-
How to Choose the Automotive Part Supplier?
Choosing an automotive parts supplier can be a complicated job. It is just like hiring an employee that suits your business. Automotive parts are a great investment for any vehicle. You need to choose a reliable company to offer you the best services. To make your search easier, we have listed some points that you need to look for in your automotive parts supplier. It will also assist you in determining your precise requirements.
Let’s read them carefully:
Find a Reputable Provider
The reputation of the automotive parts industry is critical to its success. Numerous characteristics, such as organizational ethics, financial success, management and leadership, social responsibility, dependability, product and service quality, and customer focus, can be used to gauge importance. This also applies to a company’s online reputation, which has a big impact on how consumers perceive it. A company’s reputation on the market might influence customers to pick it over rivals who might provide the same product or service. You take great pride in both your service and your goods. Working with people who are committed to protecting their reputations by improving their own is necessary if you want to maintain your reputation for quality. Your order needs to be finished on time if they have a reputation for dependability. They must properly express their abilities if they are known for their customer service, as well as work to maintain your trust and your company. Keep in mind that your clients may suffer if your supplier falls short of expectations.
Evaluation Category Weightage
The performance categories that are given weight correspond to their respective values. Each weight must add up to exactly 1.0. This benefits management when it chooses and assesses potential suppliers.
Supplier Evaluation System
Several important factors must be considered while evaluating suppliers to choose a suitable partner for a long-term partnership. Above all, these include promptness, typical lead time, product quality (including any applicable quality certificates like IATF), and payment conditions, which should be advantageous to the company submitting the order. All of these elements, as well as other elements pertinent to the company in issue, must be taken into consideration while evaluating a potential collaboration overall. It is possible to create a sophisticated system for evaluating suppliers based on the aforementioned criteria, making it easy to choose the best businesses. A thorough examination of all the indications will help to reduce the possibility of ineffective communication, which could result in missed delivery dates and a decline in productivity. The process of choosing a supplier should result in a suitable contract that expressly and precisely outlines the ground rules for cooperation between the two parties. Companies typically engage with multiple suppliers at once since the precise image of cooperation is often determined at this point. Depending on the needs and capacities of both parties, the kind and extent of cooperation may change dramatically.
Conclusion
These are some ways that will help you find the best automotive supplier. If you are looking for Keystone Automotive Supplier, you can connect with us. You will find the best automotive supplier for your vehicle needs right here.
-
Challenges for the Aftermarket Auto Parts
The automobile industry became the 4th largest in the world. Still, every industry has to face some challenges to be part of the industry. The continuous evolution of technology and trends in vehicle ownership increases the demand for mobility as a service. The market has been affected in many ways after the COVID-19 pandemic. The automobile industry also noticed the destruction in their field.
The automobile industry has seen its worst when the pandemic was at its peak. During this pandemic situation, eCommerce and online businesses have shown their growth. We hope this will not surprise you if we say the biggest changes the automotive aftermarket is going through right now are the increasing prevalence of eCommerce and the digital world.
It is also true that automotive parts buyers like to search online first rather than visit showrooms or shops. Research showed that 93% of auto parts buyers do online research to choose the best one, and 82% at least partly base their decision on the company’s online presence. That shows that word of mouth plays a vital role in it.
In the United States, aftermarket auto parts captured $16 billion in market share through eCommerce in 2020, a $2 billion increase over initial forecasts for the year. It proves that maintaining an online identity is a must to grow a business. According to the experts, the sector has started to witness a slight improvement in 2021 compared to the disastrous situation of 2019 or 2020; it still has a long way to go before it can reach pre-pandemic levels.
Here we have mentioned some challenges which are faced by the aftermarket industry:
Databases and standards
The first challenge is the use of a proper model-making database of each vehicle and associated car parts fitments. Many databases are used regionally or globally. These databases and standards are not properly synced, even though there are lots of improvements in that area.
This becomes a big issue for merchants who want the exact one-size-fits-all solution. Merchants have to depend on securing databases from different suppliers and manufacturers. Then they have to properly map out, integrate, and manage inventories.
Parts fitment
This is very obvious because organizing the different body parts can be difficult across the vehicles and parts databases. In particular, it is very crucial to make it easy to use for website visitors. When you are choosing an auto part, a lack of clarity and accuracy in matching can become very challenging for companies.
This is connected to the database issue that we have mentioned above. If you can manage it well, you will see a few returns with more customer satisfaction.
Year-Make-Model filter
This is the biggest issue that is faced by many industries. Forget about the usual navigation and look for the specific part by going through levels and levels of categories. That simply doesn’t work in automotive. This is a very crucial factor for the visitor; navigation will help them find the best one from the thousands of possibilities.
Conclusion
So these are a few challenges you need to see if you are part of the automotive industry. Connecting with new technologies will help you tackle all these challenges. So, if you are looking for aftermarket car parts, you can connect with us. We offer you the best automotive parts to make your drive better in every context.
-
Aftermarket Automotive New Trends With Challenges
Although it is not necessary to state this, the aftermarket is the automotive’s secondary market. It offers items and services for anything that could happen after a car is purchased, such as accessories, replacements, and repairs. We’ve discussed some of the issues that Aftermarket Auto Parts encounter. Read below;
Let’s start with the digital…
We’re all aware of how the internet works in our vines. So it’s no surprise that one of the most significant developments in the automobile aftermarket (and other industries) is currently underway. It’s because of the rise of eCommerce and the digital world. We’ve covered a lot of ground on this subject in the sections below.
Nowadays, before opting for another choice, car part consumers want to complete the work online first. According to the study, 93% of auto parts consumers conduct internet research before making a purchase, with 82% basing their decision in part on a company’s online presence.
Usually, this trend becomes well-known after the covid-19 epidemic. Many of us hadn’t been to the stores in a long time. According to studies, the vehicle aftermarket in the United States has a market share of $16 billion. And a nearly $2 billion rise over the year’s initial predictions. You can see that having an online persona is no longer optional; it has become a necessity for any organisation.
Boom and bust
This should not come as a surprise; it is a fascinating exchange between an industry and its aftermarket. Both the automobile aftermarket and the automotive industry rely on the buyer’s willingness and ability to spend money. However, while the auto industry requires consumers who want to buy new cars, the aftermarket requires the exact opposite. It requires people who own older vehicles and are willing to pay for tune-ups and replacements.
According to data, new car sales in the United States have been at an all-time high since 2015. Every year, approximately 17.2 million cars are sold. However, you’ll be astonished to learn that 2020 was not exactly a banner year for auto sales, with earnings expected to drop by 6% for the global auto industry.
However, when it comes to the aftermarket, the drop in new car sales implies the opposite. The auto parts sector is very resilient, and the recession brought on by COVID-19 has had a fraction of the detrimental impact it has had on other industries. Consumer purchases of auto parts hit an all-time high in the summer of 2020, demonstrating the need of sticking with what you have for the time being.
Consumers may be pushed or persuaded to buy old cars or to focus more on maintaining their present vehicles by the aftermarket. In either case, you’ll end up with older vehicles, which means you’ll be giving the aftermarket another source of revenue.
In reality, it appears that automobiles are becoming older. Over the last decade, the average age of an American car has risen by 17% to roughly 11.5 years. Vehicles are surviving longer, and drivers are willing to pay for maintenance. By 2026, the worldwide vehicle aftermarket industry is estimated to be worth more than $500 billion.
Another reason to believe the aftermarket industry will continue to develop is the presence of millennials. For once, we are not to blame for the demise of an industry; rather, we are assisting it. According to market data, millennial drivers are twice as likely as those in their sixties to be on the road. Furthermore, we are more likely to be driving an older car that we purchased. You are welcome, auto aftermarket. These are some statistics about trends and issues in the aftermarket auto parts industry. So, if you want to buy Aftermarket Car Parts, you can visit Gravity Shift and discover which option is perfect for you.
-
How to run a successful Online store?
Running an online store is not easy as it looks. The manager or the storeowners has to juggle between multiple things such as stock maintaining, constantly entertaining either employees or co-workers and more. But the biggest of them is a higher percentage of food wastage, which can lead to the business’s downfall. It mainly arises from overstocking and solving the issue by using inventory control software to have the entire stock at your fingertips.
Other multiple factors are essential to address as they can lead to the business’s downfall.
So, below are some of the factors with their effective solution that will prove helpful in running the online business successful.
1. Decide on food places
You want customers to buy more stuff. So, arrange the food items that you think people will buy together.
For example, you must put wine, vinegar, canned tomatoes and basil closer to pasta. OR cream-filled biscuits and powdered milk nearer to the coffee or tea because most customers love to eat this combination & when they see their fantast becomes a reality they can’t resist buying.
2. Re-purpose food items
If the apple is shrinking & not visually appealing for the customers, removing that apple from the aisle is mandatory. But is the garbage bin its proper place?
No, the juice counter will be its proper place and will offer a great taste to your home brand, apple juice or mixed juice.
3. Put lower prices items in the last aisle
Most customers tend to buy mid-priced or cheapest food items, and you must place them in the last aisle as it allows a customer to explore your store into the deep.
Sometimes, he may pick up the high-priced food due to curiosity and may not be turning back. So, never lose the chance of making profits.
4. Extra careful with dairy products
Most customers don’t bother to see the products’ expiration date, and you must take advantage of that.
Dairy products have shorter expiration dates and need to be consumed before that. So, you arrange the milk and yoghurt with lesser days remaining of the expiration days and keep the fresh one behind. This way, you’re reducing the food waste & hence increasing profits.
5. Food samples
You will find two types of people; the one who finds tasting food samples boring and the other who enjoys eating food samples.
You must take the situation into your hand and develop your exotic food combination, which everyone fantasizes and try building the maximum out of it no matter what.
For example, take an overly ripe avocado and make it into guacamole, serve the guacamole with chips and call it the product home brand. For sure, the product will be sold in bulk because you have cracked the market with affordable guacamole, and it is one of the trendy semi-healthy food. Now, trick the health freaks into purchasing that product for their cheat days by adding protein powder or other lucrative stuff to it.
-
3 Important Facts To Know Before Opening An Online Auto Part Supply Store
If you are thinking about becoming a Keystone automotive supplier or any other auto-part online supplier, now is the time. That is because this ongoing global health crisis has given rise to new business opportunities and trends. The eCommerce market especially has seen a dramatic change. The good news is US automotive aftermarket is showing great improvement which is pegged at 30% since 2019. Hence, if you have always wanted to become an auto part supplier, now is a great time to join the thriving online auto part supply industry. But before you go jump in, here are important facts you need to pay attention to.
- Investigate your market
This will determine your whole online store. There are many market research available online that can help you to scope out the automotive aftermarket shopper demography. The customers who shop for auto parts online can be divided into two groups: retail customers and B2B customers.
Who is a retail customer
This group of customers are people who are customizing their vehicles. It can be a kid trying to buy a good loud exhaust for his existing car. This type of business is called B2C and most time, the business quantity will be small but will have a shorter delivery time.
Who is a B2B customers
The small vendors like your local garages, auto shops and others make up your B2B customers or Business to Business customers. This group of customers will have more volume of sales, but your profit margin will be lower. But if your services and inventory are good, this type of customer will stabilize your business fast. - Focus on a Niche Market
Why do you need a niche market?
The auto part supply industry is quite vast. There are various kinds of auto part demands in the market, which broadly can be divided into two, OEM or original equipment manufacturer and third-party auto parts. So choosing one market at the start will make it easier for you to plan your business and focus your marketing efforts.
Select the type of auto-parts to sell
Once you have selected which type of auto parts you are going to sell, you can then further choose to sell only replacement parts or performance parts. So, it can either:
• External automotive parts like grills, bumpers, hubcaps, etc.
• Internal parts like cylinders, spark plugs, fuel jumps, etc.
• Tools like jacks or wenches. - Find a great eCommerce platform
Once you have decided on your niche market, formed your company and done the paper works, it is time to focus on building your online store. User experience is the biggest thing that matters when it comes to designing a website. From chatbot implementation to visual merchandising, everything should be good to gather your customer base. Hence take time in selecting the best eCommerce platform for yourself. These are the features your website should have that your eCommerce platform should implement smoothly.
• Easy method to filter their vehicle
• Faceted search
• Loyalty programs
• Chatbots
• Secure payment getaways
• B2B capabilities
The future of business is eCommerce. So, the earlier you jump in, the better it is for your business growth. Hope this information helps you in your journey to becoming a Keystone automotive supplier or any other auto-part supplier.
- Investigate your market
Gravity Shift IO
GravityShift.IO, a multi-channel selling platform helps you to easily list and sell inventory online. Load bulk automotive aftermarket parts (Turn 14, Premier, Keystone, Meyer) into your store and keeps pricing and inventory sync'd. Book a demo today.
Gravity Shift IO 