DOJ Reaches Settlement With Blackstone’s LivCor Over Alleged Rent Price-Fixing 
BlackRock-Backed Global Ports Deal Faces Uncertainty Amid Cosco Demands 
Eli Lilly and Novo Nordisk Battle for India’s Fast-Growing Obesity Drug Market 
Novo Nordisk Stock Surges After FDA Approves Wegovy Pill for Weight Loss 
Waymo Plans Safety and Emergency Response Upgrades After San Francisco Robotaxi Disruptions 
Niigata Set to Approve Restart of Japan’s Largest Nuclear Power Plant in Major Energy Shift 
Nike Stock Jumps After Apple CEO Tim Cook Buys $2.9M Worth of Shares 
AstraZeneca’s LATIFY Phase III Trial of Ceralasertib Misses Primary Endpoint in Lung Cancer Study 
Warner Bros Discovery Weighs Amended Paramount Skydance Bid as Netflix Takeover Battle Intensifies 
Saks Global Weighs Chapter 11 Bankruptcy Amid Debt Pressures and Luxury Retail Slowdown 
Nvidia to Acquire Groq in $20 Billion Deal to Boost AI Chip Dominance 
FDA Approves Mitapivat for Anemia in Thalassemia Patients 
Boeing Wins $2.04B U.S. Air Force Contract for B-52 Engine Replacement Program 
Mexico Antitrust Review of Viva Aerobus–Volaris Deal Signals Growth for Airline Sector 
Sanofi to Acquire Dynavax in $2.2 Billion Deal to Strengthen Vaccines Portfolio 
FTC Praises Instacart for Ending AI Pricing Tests After $60M Settlement 
ROCHESTER, Mich., Sept. 14, 2017 -- According to the recently published “Accessory Immersion™” and “Sales and Marketing of Accessories™” reports, while vehicle overall accessory buying rates moderated in last year, Millennials purchased vehicle accessories 66% more often than mature buyers. In fact, they spent more than three times what mature buyers spent on accessories for their vehicle purchase.
Two-thirds of new truck buyers added accessories, led by over 8 of 10 Ram buyers who accessorized their truck. The vast majority (80%) of accessory purchases happened within the first 120 days of ownership. Dealerships dominate as the preferred outlet for the purchase of most accessories, although the aftermarket is very successful with utility accessories. Dealers hold a perceptual advantage for installation, customer service and quality regarding accessories.
While accessory installation rates fell in all segments last year, total spending increased in most segments. Only half of all buyers recall a sales conversation at the dealership regarding accessories during the purchase process and two-thirds of those conversations were initiated by the buyer. Accessory buyers do significant research into accessory choices before going to the dealership so they know what they want to purchase. As a result, manufacturers and dealers continue to loose a significant portion of accessory sales to the aftermarket because buyers aren’t simply asked what accessories they want and need. The “Sales and Marketing of Accessories™” report also details per new unit retailed spending by segment and brand, revealing the leaders and underperformers.
Foresight Research provides affordable insights, information, strategies and best practices for marketers in a wide range of markets plus affordable syndicated reports on auto shows, motorsports, experiential events and vehicle accessories. For more information, contact:
Bob Longstreth
Foresight Research
248.608.1870 x 18
[email protected]
www.foresightresearch.com
