By Matt Kennedy
|In a recent study conducted by SEMA Market Research, most manufacturers, distributors and retailers surveyed saw increased sales over the past year.|
SEMA has released a new market research study, which estimates that more than two-thirds of automotive specialty-equipment manufacturers, distributors and retailers expect their sales to grow over the next year. While expectations are mostly positive among manufacturers, where 82% expect to see an increase, 74% of distributors and 68% of retailers also expect sales growth. In addition, companies continue to add new products to meet consumer demand in response to a growing customer base.
The report also puts a spotlight on manufacturers, of which 42% feel growing their customer base is the most important path to growing their sales. Part of this strategy involves exploring international markets: 84% of manufacturers surveyed are actively or indirectly selling their products outside the United States, and a majority of those selling abroad (80%) expect their international sales to grow over the next three years.
Want to learn more about the state of our industry? Find out what the biggest barriers are perceived to be within your segment and learn about current and projected product trends. Check out SEMA’s new free SEMA Industry Perspectives Report.
To see all of the reports available through SEMA Market Research, visit www.sema.org/research.
What do you think about the state of the industry? We need help from the SEMA community!
Some of you may have received an email from a company called Directions Research. If you receive a message from them inviting you to take a survey, rest assured that it is legitimate.
If you get this invitation, help us out and take a few minutes to provide your feedback. This will help us to provide the best information for our industry.