According to a recent report, high gasoline prices will affect how consumers perceive auto repair needs in several ways.
A iReport in the secondary market of Lang Marketing listed the mode of repair, how auto repairs are purchased, and where repairs to do for me (DIFM) are performed as facing the most significant impacts of consumer behavior when it comes to repair their vehicles.
“If gasoline prices remain high throughout the year, the typical family plans to spend an additional $2,000 at the pumps in 2022. This will have significant implications for how consumers manage their other expenses.” , says the report. Soaring Gas Prices Shake Aftermarket Analysis 3: Consumer Auto Repair Behavior.
With higher prices, vehicle owners will turn to more DIY options to save money, especially on routine maintenance.
“This will increase the share of products in the DIY market in 2022, slowing and possibly reversing last year’s recovery of do-it-yourself repair from the 2020 DIY surge promoted by COVID-19,” said Lang’s report. .
With a higher cost of gasoline, the use of the vehicle is reduced. So customers who used to go to a store in person to purchase products will now be looking for options online.
“Eliminating travel to a point of sale will reduce the cost of parts needed (by reducing driving) in addition to savings that may be available from online sources,” the report states.
The impact of the DIFM will be seen in the way of doing business online to offline (o2o). This is when consumers buy products online and then visit their favorite store for offline installation.
“Products already seeing significant o2o activity (such as tires) will see an increase in o2o volume, with other types of repairs, such as oil changes and brake work, likely to take a hit. thumbs up through the streamlined shopping opportunities provided by auto repair o2o,” the report says.
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