E-Commerce in Automotive Aftermarket - How can businesses cope with COVID-19
According to a report by P&S Intelligence, the global e-commerce in automotive aftermarket is predicted to generate a revenue of $292.6 billion by 2030, and is expected to witness a robust growth, of 23.3% CAGR, during the time period 2020–2030. This is due to the rising customer awareness regarding several vehicles parts and their specifications and convenience, growth of the overall automotive aftermarket, increasing number of do-it-yourself (DIY) customers, growth in average age of vehicles, and surging number of road accidents. On the basis of channel, the e-commerce in automotive aftermarket is divided into direct-to-consumer and third-party retailer, between which, the latter division held the larger share of the market during 2014–2019 and is predicted to account for the highest revenue share in the coming years as well. This can ascribed to the increasing penetration of aftermarket sales operations by e-tailing companies, such as eBay Inc., Amazon.com Inc., and A...