Industry Analysis & Industry Trends
The recession both benefited and hindered the industry. A decline in disposable income and employment resulted in a greater number of consumers transforming into do-it-yourself customers and visiting auto parts stores in order to do their own auto repairs. At the same time, the poor economic climate limited demand from commercial clients, which rely on strong economic conditions to increase production. Over the next five years, disposable income and employment will continue to rise, resulting in weaker demand from consumers, but stronger demand from commercial clients... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Auto Parts Stores industry is in the mature stage of its life cycle. Industry value added, or the industry's overall contribution to the economy, is expected to increase at an average annual rate of 0.8% over the 10 years to 2019. At the same time, GDP is expected to increase at an average annual rate of 2.4%, indicating that the industry is growing slower than the economy as a whole. This industry is anticipated to continue to grow at a very slow rate due to product saturation in the domestic market.
The industry is fragmented and competition among industry participants is high. The industry faces further competition from mass merchandisers and automotive service providers that also retail automotive parts and accessories... purchase to read more