The Auto Care Association’s TrendLens interactive data platform added three new economic and industry indicators to bring additional insight to automotive aftermarket businesses. The latest additions to the TrendLens platform provide users with the ability to monitor overall employment numbers combined with average wages, giving new insight into what’s happening in the maintenance and repair sector. TrendLens is an excellent place for auto care industry professionals to start observing the trends and changes that are currently driving the market so they can better understand how to position their company’s products in the months ahead, the association said.
New to the TrendLens platform are three additional Economic and Industry Indicators:
- Automotive Maintenance & Repair Employment
- Avg. Hourly Wages – Automotive Maintenance & Repair
- Consumer Loans – Credit Cards & Revolving Plans
Automotive Employment and Wages
With the addition of these new data sets, TrendLens users will now be able to view automotive employment and wage levels, providing new insight to the overall performance indicators of the aftermarket. For example, if employment and wages are up, that indicates a healthy situation, especially if rising demand for services is met with an adequate influx of new technicians. If employment is stagnant and wages are up, that indicates that shops may have a hard time keeping up with service demand and may influence your go-to-market strategies.
With consumers’ disposable income being one of the key predictors of aftermarket demand, consumer loans data has been added to the TrendLens platform. However, the second part of the picture is consumer willingness to spend. Adding this consumer loans indicator helps auto care industry professionals better understand consumers’ purchasing power, their willingness to spend and their debt servicing burden.
The addition of these three industry indicators now brings the TrendLens platform to nearly 50 key data points that can be utilized to make better, informed business decisions. See the full list of available market data here.
Access to the Auto Care TrendLens interactive data platform is included with an active Auto Care Association membership.
Learn more about TrendLens and how it can address your business needs at autocare.org/trendlens.
For the latest news and information on the global automotive aftermarket industry, visit https://aftermarketintel.com. Do you have news? Contact Aftermarket Intel Editor Mark Phillips at email@example.com.