Subscription Feeds

Entries by Date

Entries by Keyword

Accessorise! New car accessories research

Wednesday, October 19 2011 :: Keywords: auto market research, automotive research, car servicing :: Permalink

It goes without saying that sales executives will make at least one attempt to sell accessories to new and used car customers. And as any sales executive knows, the best time to sell accessories is when a customer signs up for a car.

At that moment customers see expenditure on accessories as quite small in the greater scheme of things and they will be concerned to protect or enhance their investment. Accessory upsell opportunities include: interior and exterior styling and protection, boot liners, towbars, roof racks and boxes, safety kits, audio-visual, and Sat Nav.

Clearly accessories add much-needed profit to car sales. But just how big is the opportunity and what do customers buy? We asked motorists interviewed for our Castrol Professional Car Service and Repair Trend Tracker 2011 survey.

The most likely buyers of accessories were those who owned cars less than one year old. Some 28% had bought one or more accessories for their car, which is nearly twice as many as the next highest – those with cars over ten years old, presumably upgrading.

Because of the need to survey all ages of cars, we cannot identify whether owners of cars under one year old bought accessories when purchasing their car, or whether they bought the accessories from their dealer. However over a quarter of new car owners buying accessories is more than a modest opportunity for retailers.

So what did these owners buy? On average they bought nearly two accessories each (so what follows adds up to more than 100%) with the most popular item being floor mats. Over 80% (of the 28%) bought floor mats.

Next was ‘audio’ with 23% making a purchase, which is surprising given the high-end specification of most car audio systems these days. Breaking down ‘audio’: upgraded speakers and MP3 connections together accounted for the majority.

The next most popular accessory purchase was alloy wheels with 22% (of the 28%) opting for these. In fourth place was ‘mobile phone accessories’ (14%) of which nearly 60% were hands free kits wired into the car.

Sat Nav was in fifth place (11%) and seat covers and wheel trims each accounted for 10% of purchases. Cycle racks, dog guards, roof bars and boxes, and various other items all made minor showings in the survey.

Talking to a range of franchised retailers about these findings, they said that between 15 and 20% of new car buyers also purchase at least one ‘extra’, which suggests retailers are missing out.

But the majority mentioned that it is easier to sell accessories as packs - for example a ‘protection pack’ including the likes of mudflaps, floor mats, sill protectors and parking sensors – because it looks better value.

Written by Trend Tracker director Chris Oakham, this piece first appeared his column in the subscription monthly Auto Retail Bulletin in October 2011.(See auto-retail.co.uk for subscription details.)



Related Reports

Post a Comment

You need to log in or sign up to post a comment.

0 Comments

Trend Tracker Limited Registered in England (4716049)

We would like to place cookies on your computer to help make this website better. Read our cookie policy. Click here to opt-out from receiving cookies.