Blog

How Millennials Have Changed the Aftermarket Parts Industry

By December 30, 2021 No Comments

The aftermarkets precision parts industry has been facing a threat with the rise of online retailers. The entire concept of the aftermarket precision parts industry has always been that of brick and mortar. Whereas recently, there has been an evident shift with the millennials, the online buying of precision parts seems much more accessible to the millennials; hence, the online business is on a hike. However, the in-shop precision parts industry is slightly regressing, perhaps because of the convenience it lacks compared to online shops. However, the people of the silent generation and baby boomers still find it much fitting to go to a shop physically and buy the thing. Just because they are too old to grasp the technology that will help them get going with online shopping. But the people of generation X have somehow progressed a little and are learning to bridge the gap of their lack of technological knowledge, good for them. They are also quite like the online shopping of aftermarket parts; consequently, the in-shop aftermarket precision parts industry is going downhill fastly.

The Variance Between Millennials and the Generations Before That

A generation like that of millennials is too lazy to go to the shop to get an aftermarket product for their car; yes, millennials do own cars! This has been a common misconception that most millennials do not own cars, but the truth is that these younger generations are crazy about cars. Therefore, when they see that they have an option to order the part they want online rather than physically going to a precision CNC parts trader, they choose to say their time and energy and do it all online. However, the less tech familiar generations think the exact opposite of this. Even when millennials did go to shops, they hated interacting with the salesperson there, but they had no other choice. Often times when millennials go to a shop, they prefer searching about the thing they are going to buy on their phone rather than asking the salesperson about it. That problem has also been solved with the online purchase, as everything that a buyer wants to know about the part, they are buying is all mentioned there on the site. Therefore, the in-shop aftermarket parts industry has to level up to keep the sales up.

How To Change This Regressing Situation of The Aftermarket Parts Industry?

In order to keep up with the online industry, the in-shop aftermarket industry will have to enhance the in-shop customer experience by all means. So that the customers, especially millennials, find it almost the same as that of the online experience and keep coming back. Some of the things that every aftermarket precision parts trader can do are as follows:

  • You will have to facilitate the in-store ordering experience for your customers first. It is true that customer service has its fair share in increasing the retailers’ sales, but then there are some things that not everyone likes. As we mentioned earlier, millennials don’t like it when salesperson keeps following them to win the customer. Therefore, to dilute this situation, what retailers should do is that they should invest more in the self-service side than the customer service side. Self-service kiosks are the best for this; customers who want to do it all by themselves just how they do it online can come in, see their product and order it by themselves. Indeed, they will be provided customer service if they ask for it but don’t offer it if they are not asking.
  • Then there is this thing that customers when come to buy in-store they want to see the product they are buying but due to the limited space of the shops, not all the precision parts could be placed at a time. Make the selection easier for the customers by storing personal to order individual parts. This will seem more convenient to the customers than buying it online.
  • Cost is also a crucial aspect of the aftermarket precision parts industry; you must provide the most competitive prices, including the parcel shipping price, without impacting the narrow margins. This will provide your customers with the ultimate satisfaction.
  • Speed up your delivery process; millennials are too impatient to wait for a long time as they usually buy stuff when their cars need instant repairs. In this rush, if you are going to delay the delivery, it will lead you to lose your customers. Therefore, provide your customers with an exact delivery time and ship their customers within that time. The satisfaction of your customers will make the online aftermarket parts industry go down on its own.

Final Word

With the changing various industries crash and rise, the catch is to keep up with each generation; otherwise, you will be left behind. You can do so much while staying true to the nature of your business, you can apply all the tactics of the online retailers into your retail shop, and your business will blossom without a doubt. Know your market, incorporate all the things and services that attract them to your business, and see your business go on a hike.

Leave a Reply