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Powersports Business • August 2023 • 11

BY TRISTIN BURDICK CONTRIBUTING WRITER

The direction of any industry is largely guided by consumer preferences , and the powersports sector is no exception . As part of our market research initiatives , we have carried out extensive surveys with members of our MyVoiceRewards consumer panel . Our aim has been to gain a deep understanding of purchasing patterns , consumer behavior , the motivations behind these purchases , and , importantly , brand preferences . This article presents the findings from our research , offering a comprehensive insight into consumer interactions in the marketplace , with a specific focus on the acquisition of motorcycle parts .

items like tires , rims , and spokes . Maintenance tools & equipment are also popular with a significant 76 % of respondents purchasing items like motorcycle lifts , chain lube , torque wrenches , and others . Body & frame parts and electrical systems were close behind at 75 % and 74 %, respectively , followed by lighting equipment at 68 %.

The survey asked respondents about their preferred retail outlets for purchasing these parts ( i . e ., from OEM or aftermarket sources , or a mix of both ). Most consumers seemed flexible , willing to purchase from both OEM and aftermarket channels . However , a discernible inclination toward OEM channels emerged when purchasing critical components such as engine components and fuel systems . If given a choice , respondents were more likely to opt for OEM essential parts .

See Consumer Insights , Page 12

Three 14.3 %

HOW MANY MOTORCYCLES DO YOU CURRENTLY OWN ?

Four 5.9 %

Five + 8.7 %

Two 29.3 %

One 41.8 %

Source : Powersports

Business

A LOOK INTO OWNERSHIP The first step in our research was identifying motorcycle ownership among research participants . A significant portion of respondents own one motorcycle ( 42 %), followed by two motorcycles per respondent ( 29 %). This suggests that a large portion of consumers that own motorcycles are deeply invested in this sport or lifestyle .

A nearly unanimous percentage ( 99 %) of the respondents have purchased OEM ( Original Equipment Manufacturer ) or aftermarket parts for their motorcycles . This underscores the consumers ’ active engagement with the maintenance and customization of their machines , further enriching the powersports marketplace overall .

These findings position motorcycle owners not just as riders but also as caretakers of their machines , directly influencing the demand and trends in the powersports parts market .

PREFERENCES IN MOTORCYCLE PART CATEGORIES

When it comes to enhancing the performance and aesthetics of their motorcycles , the consumer choices are as varied as the types of motorcycles they own . Our survey reveals that the market for motorcycle parts is extensive , with purchases spanning several categories .

The most sought-after part categories include accessories & cosmetics at 84 %— incorporating elements such as saddlebags , decals , mirrors , and more — followed by tires & wheels at 82 %, encompassing

Start offering the Synchrony Outdoors Credit Card for powersports purchases like service , parts , gear and other accessories to help your business achieve :

Increased traffic : Attract customers with another payment option .

Higher tickets : Customers can easily upgrade their powersports accessories .

Repeat sales : Welcome cardholders back to shop with their dedicated line of credit .

Plus , cardholders can take advantage of 6 months promotional financing on purchases of $ 199 or more .*

This card cannot be used for the purchase of a powersports vehicle with a VIN , including down payments .

HAVE YOU EVER PURCHASED ANY OEM OR AFTERMARKET PARTS FOR YOUR MOTORCYCLE ?

No 1 %

To enroll , scan the QR code to visit syfenroll . com and enter the code Outdoors23 or call ( 866 ) 209-4457 and select option 3 .

Yes 99 %

Source : Powersports

Business

* Subject to credit approval . Minimum monthly payments required . Gas station purchases are not eligible for promotional financing .