The Australia e-commerce in automotive aftermarket was worth around USD 1,503.5 million in 2022, and it will grow at a CAGR of 12.2% from 2022 to 2030, to touch USD 3,822.2 million by 2030, as per P&S Intelligence. This is due to the booming automotive aftermarket, escalating count of DIY customers, and convenience offered by online shopping platforms.
Third-Party Retailers Account for Higher Product Sales
The category of third-party retailers accounts for a share of 69.1% in the market. Access to a wide variety of products, simplicity of transactions, and promptness of deliveries are leading to a transition away from the traditional brick-and-mortar storefronts to online retailers for replacement automobile parts.
Moreover, the garage owners category accounted for the largest share, of 45.6%, in the industry in 2022. This is primarily because these organizations offer vehicle owners ease, accessibility, and low cost.
Furthermore, the ninth-largest market for U.S. vehicle parts exports is Australia. Domestic producers and importers both contribute nearly equal amounts to the USD 9.2-billion Australian aftermarket. Furthermore, a number of Australian companies, including Repco, Car Mods Australia, Carparts2u, and Pro Speed Racing, provide a selection of car replacement parts via online platforms.
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Key Trend Is Click-and-Mortar Retailing
Click-and-mortar shopping is popular in the automotive aftermarket, but it is unclear how consumers feel about an all-online automotive aftermarket platform. This business model consists of conventional merchants with an internet presence, enabling consumers to purchase parts online, pay for them, and pick them up in-store.
Moreover, retailers may more easily contact customers by using e-commerce platforms, which also allows them to create an online presence, upload their inventory, and sell their products. On the demand side, customers benefit from a seamless and simple shopping experience as a result of not having to physically search for certain items in different stores.
Automotive Aftermarket Expansion Biggest Revenue Boost for Players
According to Macrotrends, Australia's urban population reached over 22.1 million in 2020, an increase of 1.43% from 2019; and 22.2 million in 2021, an increase of 0.32% from 2020. The rise in car ownership is being driven by the growing urbanization and rising disposable income. As a result, there is a high need for aftermarket components, as the VIO keeps increasing.
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