Quality & Performance Drive Mobile Electronics Boom Toward $10 Billion

A SEMA Mobile Electronics Market Update indicates increased opportunity for manufacturers and retailers.

November 30, 2006
Found in: Articles : News : Web Site Marketing & Strategy :

A SEMA Mobile Electronics Market Update indicates a growing opportunity to the tune of $10 billion by 2008. This is exponential growth as the update indicates:

During the six years between 1999 and 2005, the mobile electronics market grew 67%, going from $3.3 billion to nearly $5.5 billion. Last year, the Fredonia Group forecast that the demand for automotive entertainment systems—which include just about everything we classify as mobile electronics—will reach nearly $10 billion by 2008.

Manufacturers, Distributors, and Retailers all have a significant stake in this pie and each would love to grow their slice. Educating the buyer is a priority as research shows perceived quality and performance are a major part of their buying decision:

Even though the information we are presenting in this article comes from the responses of enthusiasts who have installed mobile electronics products, there is still an indication that the current trend is increasingly centered on vehicle performance. Notice that more than 62% indicated that they strongly agree with the statement “I customize my vehicle to increase performance.”

That looks like an opportunity for businesses that specialize in mobile electronics to offer vehicle performance-enhancing products along with their current product lines. It could also be an opportunity for tuner shops, speed shops and other performance oriented businesses to offer mobile electronics products.

How can Manufacturers increase sales?

Both a recent "Touchpoints" study and the "Search Before The Purchase" report by Marketing tools and analysis company DoubleClick show that buyers trust information on Manufacturer web sites the most:

In eight out of the 10 categories, respondents cited the official website of the manufacturer or service provider as one of their top four choices as a resource for learning more about a product in which they were interested.

[The Search Before The Purchase Report] also found that most searchers complete their purchase-related search activity weeks in advance of the purchase transaction. While it is widely accepted that searches that lead directly to a purchase are often brand-related search queries, the study shows that brand names of online retailers were in the minority of all the purchase-related searches made during their shopping research.

order to increase sales, potential buyers must be educated as to why a product is better in categories such as quality and performance that are important to them. According to these reports, this requires an easy to use web solution with correct and timely product information. Additional information such as application examples, case studies, success stories and testimonials, reviews, and solutions to buyer problems can all add significant value to a brand. A web solution that fuels a sales increase for manufacturers is both affordable and opportune. Get started here as Enthusiast provides quality web solutions to increase sales and better educate buyers.

How can Distributors increase sales?

Distributors stand between the manufacturer and retailers but certainly have gains in certain products selling in greater volume. The research shows a growing importance for buyers to research the products you deliver via the manufacturer's web site. Increasing product demand will increase their and your sales so feel free to encourage them to get started by sending along their info and we will encourage them with you.

How can Retailers increase sales?

A recent report by Akamai and JupiterResearch cut the time buyers are willing to wait on an e-commerce site from 8 seconds to 4 seconds:

Four seconds is the maximum length of time an average online shopper will wait for a Web page to load before potentially abandoning a retail site. The consequences for an online retailer whose site under performs include diminished goodwill, negative brand perception, and, most important, significant loss in overall sales.

Retailers reaching out to automotive enthusiasts need to consider what information is available on their own site and on their respective manufacturers web sites. Even though the retailer is not seen as the most trusted source of information, they are still a valuable educator when it comes to buyers.Providing

Providing a robust yet simple web site for consumers is vital. Often usability and an impacting yet intuitive approach to a web site is overlooked for the preferences of a few technologists that might not even be within the target mbuyers.Enthusiast

Enthusiast provides innovative and most importantly easy-to-use web solutions so you can grow sales and increase your piece of this $1pie.Geton pie.

Schedule a free interview today.