IHS Markit has announced a new tool to provide parts suppliers an up-to-the-minute view of ‘what’s happening at the counter.’
The business information provider has launched the Market Performance Analysis Tool to allow aftermarket companies to analyze unit and dollar volume by product line, as well as compare actual transaction pricing against competition. Results can be determined over a set period of time and by various geographic regions, utilizing the same “WorldView” online system currently used to analyze vehicles in operation (VIO), original equipment research, and parts catalogue coverage.
Nearly $2 billion in annual sales transaction data from WHI Solutions (an eBay company) is incorporated into this solution from its Nexpart e-commerce solution across the U.S. and Canada. Monthly sales data from more than 18,000 users is normalized to the auto care industry ACES & PIES standards, making it easy to link to IHS Markit data and providing the user with easily recognizable product and brand nomenclature.
Users can compare brand or product line movement for a given time period and geographic region against the both the total units and dollars for that product line and/or a specific competitive set. Actual transaction prices are also included, allowing for competitive pricing analysis in order to make near real-time decisions based on what is happening in the marketplace. The database is updated monthly.
“This new offering fills a need in the marketplace to make decisions based on actual transactional sales data – specifically, a view of what is happening at the counter,” said Mark Seng, global aftermarket practice leader, IHS Markit. “It also provides the aftermarket with key performance and competitive pricing metrics to help them make more informed category management decisions for their business.”