Automotive and auto parts is one of the fastest-growing industries. Pandemic-driven factors, and now macroeconomic factors, will continue to spur growth in this category, which has an underdeveloped ecommerce presence.
That said, rising inflation continues to affect consumer spending habits.
With part suppliers experiencing ongoing supply chain constraints, plus the resistant headwinds of inflation, raw material, fuel costs, and more, the industry continues to see pressure on profit margins and revenue growth. But there is good news: there are still opportunities for brands to attract and retain customers.
PriceSpider offers its services to numerous brands that not only manage direct-to-consumer (DTC) stores but also need assistance with their channel distributors or vendors. Where to Buy are not meant to take away from a brand’s DTC experience or ecommerce sales share. Rather, brands use Where to Buy Shoppable Solutions to compliment the brand.com consumer experience and give an avenue to shoppers who shop at certain stores or brand.coms.
Benefits of Using Where to Buy Shoppable Solutions & Direct to Consumer (DTC) Strategies
- Display your DTC experience alongside your channel partners
- Help control and track the customer experience and purchase funnel journey
- Reduce bounce rates by providing both experiences on one site
The goal is to continuously promote where shoppers can purchase your products, using ads and integrated digital marketing to drive consumer journeys. This can grow your customer base and move them from learning about your product, to considering it, to making a purchase.
Ratcheting Up Digital Shelf Auditing & Optimization
To help guide consumers through the purchase journey and accelerate purchase decisions among new entrants to the automotive and parts ecommerce market, brands are focusing on adding and scaling digital shelf monitoring to uncover insights that help remove barriers to consumer purchase.
“Price and availability go hand in hand for some of our key brands across industries,” notes Rae Guimond, PriceSpider’s Director, Strategy and Business Development, “By using Brand Monitor to track owned and competitor products, brands are able to collaborate with their channel partners and teams to ensure products featured in Where to Buys and marketing campaigns remain in stock and product detail page experiences accelerate consumer confidence and purchase decisions.”
Tips for Monitoring and Auditing Product Online
In an evolving online marketplace, efficiently monitoring and auditing your products is crucial to stay competitive. Implementing the four strategies listed below can help enhance customer experience, optimize collaborations, and outperform competitors:
- Use digital shelf monitoring to uncover insights that help remove barriers to consumer purchase, such as auditing price, availability, images, and share of search.
- Prioritize data collection through product, search results, and category page crawling to uncover enhancement opportunities for consumer experiences, including tracking competitors and share of search.
- Collaborate with retailer, vendor, and distributor channel partners and supply chain, sales, and marketing teams to ensure products remain in stock at key sellers when competitors are out of stock and advertising spend is active.
- Review competitor promotion and incentive activity to launch or modify strategies to direct consumers to different counts, similar products, or retailers to keep brand products in baskets, protecting against consumer brand switching or even trade down.
Get in touch
PriceSpider helps the world’s leading brands harness the power of customer behavior, improve search rankings, and protect their brand integrity across online storefronts. Get in touch with our experts to learn how PriceSpider can help your brand.