Auto Aftermarket Retail Sees Major Recovery in 2024

RADIO ONLINE | Monday, November 11, 2024

Cumulus Media and Westwood One

In a recent study commissioned by Cumulus Media | Westwood One Audio Active Group, significant strides have been observed in the recovery of the auto aftermarket sector. The study, carried out by MARU/Matchbox, surveyed 1,138 auto parts shoppers in August 2024, revealing a return to pre-pandemic levels of shopping and spending.

Key findings from the study show a robust recovery in several areas:

• Spending and Shopping Frequency: Consumers are now visiting more retailers and spending more annually, akin to pre-COVID-19 levels.

• Brand Loyalty: Top industry players like AutoZone and O'Reilly Auto Parts are experiencing stable to increased brand equity. However, second-tier retailers have seen a slight decline.

• Advertising Impact: The research highlighted the effectiveness of AM/FM radio and podcasts as advertising platforms. These mediums are particularly influential among key consumer segments, including do-it-yourselfers and ultra-heavy shoppers, who tend to visit more retailers and spend significantly more than the average shopper. In contrast, TV advertising appears to underperform in reaching this demographic effectively.

• Growth of Online Retailers: Notable online platforms such as eBay and RockAuto.com have seen an increase in consumer traffic, with reported growth from 6% in 2023 to 9% in 2024.

• Youth Engagement Through Services: Maintenance and service offerings like oil changes and battery testing are highly influential for 72% of young adults aged 18-34, driving greater engagement with the auto parts market.

These insights underscore the potential of targeted advertising through AM/FM radio and podcasts to effectively reach and influence auto parts shoppers. The full analysis of the study's findings can be explored in today's blog post on the Cumulus Media | Westwood One website.