Vehicle manufacturers launch more and more new models, sometimes completely new models and other times current models with mechanical changes. At Factory Data we asked ourselves: How did the significant increase in new models on the market affect demand?
Well, in order to prepare the study on the evolution of demand in recent years, we have used data from 3 million searches carried out during the period August 2021-August 2022 and another 3 million searches carried out between January and December 2019, all of them searches in Spain for Alternators and Starter Motors.
We have analyzed all these data from the NEO Manager tool that allows the analysis of vehicle parts demand.
From the analysis of the 2021-2022 searches, we can find out that there are 11,815 different Alternators and Starters in demand in Spain. Of these, 1,048 products concentrate 60% of the total demand and with 1,283 more products, in total there would be 2,331 products, we would cover 80% of the total demand.
If we now carry out the same analysis based on the searches that we have in 2019:
We find interesting results:
The total number of different products in demand in 2019 was only 7,904, 33% less products than in 2021-2022 (11,815).
The number of products we needed in 2019 to cover 60% of the demand was only 780, 25% less products than in 2021-2022 (1,048).
In a very clear way we can see that the demand in 2021-2022 is broken down into many more products and therefore: We will need a minimum of 25% more products on our shelves to cover the same % of demand as in 2019!
Actually the increase in the number of different models of vehicles on our roads is pushing the parts specialists to significantly increase the investments in inventories and more and more complicates the correct selection of products, to mainly try to avoid introducing potentially obsolete products or low potential sale.
The use of tools for demand analysis and for optimizing the product range is, nowadays, crucial to be able to improve sales but above all to increase the profitability of our inventories.
