ROCHESTER, Mich. — Foresight Research, a Rochester, Michigan based market research firm specializing in automotive research, has released results of its syndicated 2011 Automotive Accessory Market Report. Foresight Research conducted 7,458 interviews with new car buyers to write this study. The detailed study included virtually all car makes, models and types and came to the following, eye-popping conclusions
- 44% of all buyers spend at least $250 and intend to spend a whopping $1,810 on accessories!
- Average accessory dollars spent and intended to be spent per new vehicle sold equaled $815
- Availability of accessories was influential to selecting a dealer by 23% of all buyers
- Only 39% of salespeople actually tried to sell accessories and less than half of dealers have accessorized vehicles on display
- Accessories played an influential role in the sale of 12% of all vehicles sold
“The auto industry intuitively knows that accessories are important on pick-up trucks and sport utility vehicles, however, it’s surprising to see the dramatic influence that accessories have across the board on all vehicle types,” said Steve Bruyn, CEO of Foresight Research. “Yet, despite the strong consumer support and desire for accessories, our research shows that dealers currently under serve the market and are therefore missing out on huge sales and revenue opportunities.”
The detailed accessory report includes breakout data by vehicle brand, segment, geography and accessory type (appearance, performance, comfort/utility and protection). The study also describes what marketing strategies work best. Subscribers to the Foresight study are able to mine results based on their specific interests and make informed decisions on future accessory programs.
Foresight Research is based in metro Detroit, MI and can be reached on the web at www.foresightresearch.com for more information. The company specializes in creating studies that identify the key influences in various purchase decisions. By measuring the source of influence and ROI, marketers can create a more comprehensive, targeted marketing plan. Foresight Research was founded in 1998 as a full-service market research company. We now serve over forty clients in the automotive, advertising, public relations, direct marketing, healthcare, government, and industry association sectors.