Analysis of the future prospects of the e-commerce industry in the automotive aftermarket under the Internet + wave

The rapid development of the Internet and the mobile Internet has led to the development of e-commerce in the automotive aftermarket. For consumers, direct purchase or customization through the Internet has reduced the consumption of intermediate links; for automotive companies, the brand promotion of the automotive aftermarket has increased, and consumers have further improved their browsing of relevant information. Asymmetric consumption scenarios. According to the “Special Consultation Report on the Opportunity Challenges and Coping Strategies of the Internet in China's Automobile Aftermarket Industry 2015-2020” issued by the Forward Industry Research Institute, it is pointed out that the current e-commerce market in China's automotive aftermarket is still in its infancy, and the future industry prospects are good.

Four models of e-commerce applications in the automotive aftermarket

At present, the domestic automotive aftermarket can be roughly divided into four types of e-commerce models: mall-type e-commerce, C2B user customization, B2C+O2O mode, and B2B2C+O2O mode. The first two types of e-commerce models require consumers to have the appropriate vehicle or maintenance knowledge. Car parts are different from other products, and the part model or the corresponding information error will lead to deviation of the goods.

Chart 1: Four types of e-commerce models in the automotive aftermarket

Analysis of the future prospects of the e-commerce industry in the post-market after the Internet + wave

Source: Prospective Industry Research Institute

Analysis of the scale of e-commerce transactions in the aftermarket

According to the data obtained, in 2014, the sales volume of the company was about 300 million yuan. By the end of 2014, the cumulative sales of Twilight in Tmall exceeded 35 million yuan, which is more than 700 billion in 2014. Compared with the scale of the automobile aftermarket, Yuan’s proportion is small, which further indicates that the overall transaction scale of China’s automobile aftermarket e-commerce is too small and still in its infancy.

Comparison with e-commerce penetration rate of foreign auto aftermarket

At present, the automotive aftermarket e-commerce development in Europe and North America is in the world's leading position, especially in the field of tire e-commerce. Currently, 21% of the tires in the US replacement tire market are sold online. According to other data, sales of European tires through e-commerce have now accounted for 9% of their total sales, about 8 billion US dollars, accounting for 10%-15% of online sales in the local auto parts market. It is reported that the online sales of the US replacement tire market in 2013 accounted for about 5% of the online sales of all auto parts market, reaching 230 million US dollars, and its growth rate is as high as 30% per year. It is expected that by 2020, tires can reach More than 10% of online sales in the auto parts market.

According to the scale of e-commerce transactions in China's auto aftermarket and the total size of the post-automobile market, it is expected that the current penetration rate of e-commerce in China's auto aftermarket is less than 2%, which is very different from foreign countries.

Market space measurement of the e-commerce industry in the automotive aftermarket

The two major factors affecting the automotive aftermarket demand are: car ownership and the profit structure of the automobile industry chain. In terms of car ownership, by 2018, China's car ownership will reach or exceed 200 million. In the automobile industry chain of mature countries, the automotive aftermarket accounts for 50-60%, while China currently only accounts for about 10%, and there is still much room for improvement.

Forward-looking analysis believes that China's automotive aftermarket will maintain a growth rate of 10%-15% in 2015-2020. It is estimated that by 2020, the size of the automotive aftermarket will reach 1.435 trillion. Therefore, in the current automotive aftermarket, the e-commerce industry accounts for a small proportion of the industry as a whole, and there is huge room for growth in the future.

Chart 2: 2015-2020 China Automotive Aftermarket Scale Forecast (Unit: 100 million yuan)

Analysis of the future prospects of the e-commerce industry in the post-market after the Internet + wave

Source: Prospective Industry Research Institute

2015-2020 automobile aftermarket e-commerce forecast

At present, China's automobile after-market e-commerce is in the primary development stage. The forward-looking industrial research institute predicts that the scale of China's auto aftermarket e-commerce market will continue to grow rapidly in 2015-2020, and the compound annual growth rate will remain above 40%. According to the estimation of China's automobile aftermarket e-commerce industry in 2% of the overall market size of the industry in 2015, by 2020, the market size of China's automotive aftermarket e-commerce industry is expected to exceed 100 billion yuan.

Figure 3: Forecast of e-commerce scale of China's auto aftermarket in 2015-2020 (unit: 100 million yuan)

Analysis of the future prospects of the e-commerce industry in the post-market after the Internet + wave

Source: Prospective Industry Research Institute

Prospects for e-commerce trends in the automotive aftermarket in 2015-2020

â—† Trend 1: Accelerated business process of traditional enterprise e-commerce

With the rising cost of marketing of traditional auto aftermarket enterprises and the impact of e-commerce by other platforms, the e-commerce business process of traditional auto aftermarket enterprises has gradually accelerated. At present, there are basically three ways for automotive aftermarket companies to enter e-commerce operations: one is to build a website, provide more information and online sales, the second is to join platform-based websites, such as Tmall, and the third is offline and online. Therefore, traditional channels can continue to attack the city under the competition of traditional channels, defeat the same kind of offline, and at the same time, through effective e-commerce defense, win more time for the strategic adjustment of the store operation, and retain more in the final competition balance. living space.

â—† Trend 2: Platform e-commerce and vertical e-commerce will be squared

Platform-type e-commerce and vertical-type e-commerce will be squared, and platform-based e-commerce attracts more and more auto aftermarket companies because of its influence and simplicity, including Tmall. Vertical-type e-commerce will be more and more popular among customers because it provides integrated services.

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