Demand Index bridges gap between product line performance and market
The Auto Care Association today announced the release of its new Demand Index, developed to enable auto care industry companies to view product category performance trends detailing the monthly demand of automotive aftermarket product lines in the U.S. This data can offer one-of-a-kind insight into company product performance versus the market, including a more accurate gauge of the strengths, opportunities and gaps to improve strategic decision-making. Aftermarket executives can utilize the index and its true market data as a valuable forecasting tool to observe historical trends and infer how the market will behave in the future. Category and product managers are also able to utilize the tool as a barometer for product performance against the market.
The Demand Index is based on anonymized, unit-level point-of-sale transaction data for 15 product lines from a comprehensive list of retail and commercial distribution businesses representing more than 80% of hard parts transactions. With just a few clicks, users can view custom date ranges of data, examine points by hovering with their cursor, overlay categories, export or securely import data to compare with their own business performance.
Available product lines in the Demand Index include:
“Internal data and trends are only half the picture. You know how your business is doing, but not knowing how the market is performing is a clear gap in the information needed to make strategic business decisions,” said Behzad Rassuli, senior vice president, strategic development, Auto Care Association. “We’re excited to give aftermarket companies the data necessary to fill that void so they don’t have to make decisions by putting their finger in the air.”
Pricing for the index is based on a 12-month subscription: $5,000 per category, per year for members; and $15,000 per category, per year for non-numbers. Users must be validated and approved as a part supplier within the category they wish to purchase in order to gain access.
The Demand Index is housed within Auto Care Association’s all-new platform for interactive data, the Auto Care TrendLens. TrendLens is the platform destination for informed and knowledge-seeking Auto Care Association members and industry experts. The new platform will expand in the near future to include data and trend information focused on providing one-of-a-kind insights into the aftermarket business.
“Our retailers and distributors are using it, our manufacturers are using it, and what they tell us is that the Demand Index gives them the ability to speak the same language around product performance,” Rassuli said.
To learn more, read testimonials and apply for access to the tool, visit autocare.org/demandindex.
For more information or questions about the Demand Index, contact [email protected].
