For this assignment, I chose to research more deeply the target audience for our family business, automotive aftermarket shop, Derand Motorsport. A wealth of data and research is provided each year by the world wide industry association for our business category, SEMA, which stands for Specialty Equipment Manufacturers Association.
SEMA data shows that the automotive aftermarket enthusiast category is made up of 66% men, and is growing in women enthusiasts, particularly young women ( 18 – 34 year olds ). 70% have completed some college and 24% have completed a university degree or higher. They span all income levels. This is a passionate and diverse community that shares a love of cars and customization of their vehicles.
Even though data is showing fewer young people are purchasing cars, and they are taking longer to get their full drivers license, more than one third of all aftermarkets parts buyers last year were under 30. Young people are the engine fueling the growth of the automotive aftermarket.
After confirming that the youth market is a main growth area for our business, we will continue to build our online presence on both Instagram and Facebook to maintain the community we have. As well, we will focus on a wider variety of live events for this year’s car season, including a young customizer event, possibly a glowing night car show, and more car rallies, which tend to attract the younger car enthusiasts.
Sema Market Report, Documenting the Growth of an Industry, 2019, retrieved from Sema.org.