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Tyres Set European eRetailing Market for Automotive Parts Rolling Finds Frost & Sullivan - Nearly 20 percent of all tyres in Europe to be sold online by 2020 - allopneus.com
Tyres Set European eRetailing Market for Automotive Parts Rolling Finds Frost & Sullivan

 

PRZOOM - /newswire/ - London, United Kingdom, 2014/04/09 - Nearly 20 percent of all tyres in Europe to be sold online by 2020 - allopneus.com.

   
 
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The growing influence of the internet on the auto industry can be seen in the continuous growth of the eRetailing market for automotive parts. eRetailing of automotive components has given aftermarket participants a fresh boost and presents a new sales channel dynamic enough to be in sync with evolving macro-economic conditions and also flexible enough to address customer needs by offering a personalized shopping experience.

The sale of tyres is according to Frost & Sullivan (automotive.frost.com) by far the biggest segment amongst all automotive replacement parts sold online, contributing close to 46 percent of total aftermarket eRetail revenues for auto parts in Europe and being worth EUR 2.5 billion in 2013.

"Rapid growth in online tyre retail is indicative of a shift in aftermarket consumer behaviour with respect to cost, availability and choice," says Frost & Sullivan Senior Research Analyst, Anuj Monga. "The online sale of tyres currently constitutes 7.8 percent of the total tyre aftermarket. Growth in online tyre sales therefore challenges the current decline in sales, as witnessed by the broader tyre aftermarket, particularly through traditional retail channel."

The impact of the global economic recession has been visible across all industries in Europe, with the automotive industry having been hit the hardest, a major reason for the slump in overall tyre sales.

Online tyre retail however, will constitute roughly about 20 percent of the total tyre replacement aftermarket revenues by 2020. "France, Germany and Russia are the countries leading this growth with an online tyre retail penetration of 12 percent, 11 percent and 8 percent respectively while the UK, Italy and Spain are also expected to experience strong growth," Monga continues.

Online tyre retailers are matching service levels of traditional tyre retailers to facilitate this growth, which includes efficient tyre fitment and in most cases return of worn out tyres. While price discounts of tyres sold online is a major pull for customers, the possibility of choosing from a wide variety of make and models is also a key driver. Another area where tyre eRetailers can possibly differentiate themselves are refurbished tyres. eGommerce, an Italian startup tyre eRetailer, is already exploring this avenue. Other discounts and freebies also belong to the tried means of attracting customers to the online channel.

New market players are attracted to the market, as customers show a growing confidence in purchasing replacement tyres online. The shift in consumer attitude has lead companies to offer personalized shopping solutions, of which the ‘door-step delivery and fitment’ service is the most popular. Offering consumers a choice of tyre fitment at a location of their choice has already triggered considerable attention, with companies like Allopneus (France - allopneus.com) leading the way in enriching the whole customer purchase experience.

In terms of revenues, German pioneer Delticom lead the market in 2013 with EUR 600 million in sales. The company has 137 online shops spread across 42 countries and a network of 35000 professional fitting garages. Other noticeable names in the tyre eRetail market are Blackcircles.com, Oxyo-Pneus, PopGom, Pneus Online, Oponeo.pl and eGommerce. These new market entrants are expected to develop new business models in the future, which will further foster growth in online business. The market is however, expected to witness significant consolidation in coming years, as companies look to gain a stronghold in this competitive environment.

Frost & Sullivan is currently researching the European eRetailing Market for Automotive Parts. If you are interested in further information on this study, please send an email to Chiara Carella, Corporate Communications, at chiara.carella[.]frost.com, with your full contact details.

About Frost & Sullivan
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Tyres Set European eRetailing Market for Automotive Parts Rolling Finds Frost & Sullivan

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Tyre eRetail Market | Frost & Sullivan
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