The automotive aftermarket is changing fast, and businesses need a roadmap to stay competitive. In a recent webinar hosted by consulting firm Roland Berger, an industry expert outlined five critical strategies for staying ahead in the industry.
Elena Yakushkina, partner with the firm, outlined recommendations that include capitalizing on the growing shift to independent repair shops.
“Cost of service actually outpaces the inflation in many other regions, and consumers are turning to independent repair shops,” Yakushkina explained during the webinar entitled Navigating the future of the automotive aftermarket, which contained insights from Roland Berger’s latest Aftermarket Pulse report.
This trend offers an opportunity for aftermarket players and original equipment manufacturers to diversify their revenue streams, she added
Digital transformation is another key focus.
“Those who will invest in truly omni-challenge peers of the customer will build competitive advantage,” Yakushkina said, emphasizing the importance of improving online purchasing experiences.
The rise of non-branded parts requires a nuanced approach as a third strategy
“Non-branded parts are gaining traction because of the cost consciousness of the clients and the increasingly better quality of the parts,” she noted.
She stressed the need for a tailored strategy with adapted pricing and part portfolios.
Upskilling workshops for electric vehicles and complex data systems is crucial. Companies that can support workshops through this transition will gain a competitive edge, Yakushkina observed.
Sustainability rounded out the strategies, with a focus on remanufactured and used parts.
“This is a window of opportunity also to diversify revenue streams,” Yakushkina said.
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