Source: Hedges & Company announcement
HUDSON, Ohio — Hedges & Company, a digital marketing agency serving the aftermarket and powersports industries, released a report showing digital influence on the automotive parts and accessories market will be at $217.8 billion by 2028 in the U.S. It is projected to be at $177 billion in 2023 and will break $200 billion in 2026. That represents a 4.2-percent compounded annual growth rate (CAGR) 2021-2028.
“Digital influence” is the impact of digital media on retail sales, both online as well as offline through brick-and-mortar stores. It comes from consumers exposed to online ads, videos, social platforms, email, product reviews, and product information on third-party marketplaces such as eBay Motors and Amazon. Digital influence also comes from the quality and user experience (UX) of a brand’s own website, whether that website sells direct to consumers or not.
“This analysis shows the results of exposure to online information as the average consumer spends more than six hours per day online,” said Jon Hedges of Hedges & Company. “All that exposure determines where and how consumers spend billions of dollars on parts and accessories.”
U.S. vs. Euro Aftermarket: A Comparison
The report breaks down digital influence by sales channels serving the do-it-yourself (DIY) market as well as the do-it-for-me (DIFM) market.
Digital influence on DIY parts and accessories sales alone will reach $94 billion in 2028. Digital influence on replacement tires for cars and light trucks will reach $41.1 billion in 2028.
About Hedges & Company:
Since 2004, a leading full-service digital marketing agency serving the $38 billion addressable market of eCommerce and third-party marketplaces that sell parts and accessories. Automotive digital marketing capabilities include automotive SEO and PPC, email marketing and mailing lists. Hedges & Company is the first Premier Google Partner agency, Amazon Advertising partner agency and Microsoft Advertising agency fully dedicated to the parts and accessories automotive aftermarket. Members of the Specialty Equipment Market Association (SEMA), Auto Care Association and Custom Automotive Network (CAN). Hedges & Company serves clients in the U.S., Canada and Europe and is located in the Cleveland metropolitan area, based in Hudson, Ohio.