Truck Parts and Service | Heavy Duty Trucking, Aftermarket, Service Info
Issue link: http://read.dmtmag.com/i/393928
U nited States retail e- commerce totaled $75 billion in the second quarter of 2014, according to a report released in August by the Census Bureau of the Department of Commerce. Though e-commerce ac- counted for only 6.4 percent of total retail sales during that period, the Department of Commerce says the e- commerce total increased 4.9 percent over the fi rst quarter of 2014 and 15.7 percent from the second quarter of 2013. Conversely, total retail sales were up just 4.4 percent over the same period. E-commerce editorial and research site Internet Retailer wrote in May that U.S. e- commerce sales are expected to grow from $263 billion in 2013 to $414 billion by 2018. Citing a report from For- rester Research, the website adds e-commerce could grow at a compounded annual rate of 9.5 percent, and could ac- count for 11 percent of total retail sales by 2018. Combined with an earlier Forrester report that notes "60 percent of all U.S. retail sales will involve the Internet" in some capacity (researching, purchasing, etc.) by 2017, it is becoming quite clear that joining the online revolution is no longer optional. Not even for the heavy- duty aftermarket. "Every day the [online] market grows, and it grows because customers like the experience," says David See- wack, CEO at FinditParts. For aftermarket distribu- tors reliant on end-user sales, joining the Internet sales revolution offers the opportu- nity to provide customers that enjoyable experience. But the benefi ts aren't all one-sided. Businesses also gain when selling products online. Increasing visibility and accessibility are just two clear benefi ts for distributors. There's no "behind the counter" or "in the back" when selling parts online. The limitations of a typical show- room (open hours, square footage, etc.) do not apply to the Internet. 26 Sales & Marketing T R U C K P A R T S & S E R V I C E | O c t o b e r 2 0 1 4 Since coming online in 2009, FinditParts has more than tripled its available parts inventory and has shipped products to more than 100 countries worldwide. Every day the [online] market grows, and it grows because customers like the experience. – David Seewack, CEO at FinditParts