AOA Releases 2013 Midyear Accessories Trend Report: Protection, Utility, Convenience Still Dominate – and Profits Grow
San Francisco, CA (PRWEB) September 23, 2013 -- AOA today released its 2013 Accessories Trend Midyear Report which demonstrates that the macro trends that impacted 2012 accessories sales, and consumer preferences in vehicle add-ons, are continuing and increasing in 2013 – to the advantage of dealerships who are leveraging the revenue opportunities offered by accessories sales. Dealerships studied in the report experienced a 10% increase in revenue and gross profits rose over 5% from 2012 to an average of 53.5%.*
Strong vehicle sales – with truck sales up by double digits – and the increasing length of vehicle ownership, were all key drivers of the popularity of accessories and aftermarket products that enhance convenience, increase utility, extend longevity, and make it more enjoyable to drive for the long term.
“Midyear trends in the accessories sales market that favor dealers should be welcome news as many dealerships continue to experience slowly shrinking net and retail gross profits, along with more rapidly declining service and parts sales,” said Add.On.Auto President Sidney Haider. “These accessories sales trends and new software and technologies, as well as changes in consumer behavior, are leading to increased revenue and profits for those dealerships who listen to what today’s accessories consumer wants – and for those who are adopting new processes in line with their preferences.”
According to the report, the days when consumers walked into a dealership with just standard options packages in mind are long gone – the ideal combination of options and features no longer exists, meaning accessory offerings from dealers have become more important – as have the tools that help consumers navigate the almost limitless number of options. And it is showing in results: the average dealer analyzed for this report, over the first 6 months of 2013, sold more than 50% of the customers presented with accessories.
The report is based on sales data from a diverse sampling of 150 dealerships, representing 18 brands and 5 regions across 30 states, who had accessories sales of more than $31 million during the first 6 months of year 2013.
Here are some report highlights:
The top selling accessories by volume, revenue and profit underscore consumer emphasis on protection, convenience and utility.
To view the Top Selling Accessories, click on the chart to the right.
And, even when it came to electronics, a category full of fancy options and gimmicks, protection still ruled, as did practical choices for ‘securing’ vehicle investments. Alarms, Remote Starters & Recovery Devices outsold all other electronic products at the dealerships in the first six months of 2013.
To view the Top Selling Electronic Products, click on the chart to the right.
For the full AOA Accessories Sales Trend Midyear report and results, click here: http://www.izmocars.com/.
*All dealerships in the report utilized Add.On.Auto. The report is based on sales data from a diverse sampling of 150 dealerships, representing 18 brands and 5 regions across 30 states.
About AddOnAuto
AddOnAuto (AOA) is an in-store accessories sales technology that helps dealerships effortlessly sell accessories within their dealership, and streamlines what was once a cumbersome, arduous (and unprofitable) task for dealers, producing significant results for hundreds of dealers across the country over the past 3 years. AOA has demonstrated that accessories sales are an excellent source of added – and diversified – dealer income: dealers using the AOA product average $500 in accessories sales per new vehicle sold, and closed over 50% of the customers who were presented with accessories, reaping an average gross profit of 53.5%.
To learn more about the Add.On.Auto Digital Dashboard, please visit: http://www.addonautos.com.
Contact: mWEBB Communications, Melanie Webber, +1-424-603-4340, melanie(at)mwebbcom(dot)com
Crystal Hartwell, mWEBB Communications, +1 (714) 987-1016, [email protected]
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