Auto Care Association announced it has added three new economic and industry indicators to its interactive data platform, TrendLens, to bring additional insight to automotive aftermarket businesses.
TrendLens is a useful resource to observe the trends and changes currently driving the automotive aftermarket so businesses can better understand how to position their company’s products in the months ahead. The data platform is exclusively available to Auto Care members.
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.
New economic and industry indicators:
- Automotive maintenance and repair employment
- Average hourly wages - automotive maintenance and repair
- Consumer loans - credit cards and revolving plans
Automotive Employment and Wages
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.
Consumer Loans
With consumers’ disposable income being one of the key predictors of aftermarket demand, consumer loans data has been added to the TrendLens platform. Adding this consumer loans indicator helps auto care industry professionals better understand consumers’ purchasing power, their willingness to spend, and their debt servicing burden.
With the addition of these three industry indicators, TrendLens platform now includes nearly 50 key data points that can be utilized to make better, informed business decisions. To see the full list of available market data, click here.
To learn more about TrendLens and how it can address your business needs, click here.
