12 • August 2023 • Powersports Business
FINANCE www . PowersportsBusiness . com
Maintenance Tools & Equipment
Transmission and Drivetrain
Source : Powersports Business
Accessories & Cosmetics
WHAT CATEGORIES OF MOTORCYCLE PARTS HAVE YOU PURCHASED FOR YOUR MOTORCYCLE ?
Tires and Wheels
Body & Frame Parts Electrical Systems Lighting Equipment Braking Systems Exhaust Systems Suspension Parts
Performance Tuning Parts
Fuel Systems Engine Components
Other 4.9 %
14.4 %
25.6 %
31.3 %
36.0 %
39.5 %
48.7 %
56.2 %
67.5 %
76.0 % 75.3 % 74.1 %
83.5 % 81.4 %
0 % 10 % 20 % 30 % 40 % 50 % 60 % 70 % 80 % 90 %
CONSUMER INSIGHTS
CONTINUED FROM PAGE 11
SPENDING TRENDS IN MOTORCYCLE PART CATEGORIES
Unveiling the dynamics of the powersports consumer , our survey also provides an indepth look at the spending habits of motorcycle owners . Notably , the majority of the total lifetime spend for each part category ( exhaust systems , suspension parts , braking systems , tires , fuel systems , and nine other categories ) falls between the $ 100− $ 499 price range , representing a significant chunk of the average consumer ’ s investment in their motorcycle ' s upkeep and enhancement .
As expected , part categories that typically experience the most wear and tear , such as suspension parts , tires , and engine components , accounted for higher total costs . A more detailed analysis shows 12 % of respondents spending over $ 5,000 on engine components and 27 % spending between $ 500− $ 999 on suspension parts , highlighting the substantial investments made towards maintaining optimal motorcycle performance .
An annual spending snapshot reveals a similar trend . Tires & wheels , braking systems , electrical systems , and maintenance tools were the categories with the most expenditure in the past 12 months . In contrast , expenditures on engine components , exhaust systems , and performance tuning parts were relatively low , reflecting their long-lasting nature and reduced frequency of replacement ( compared to other part categories with higher wear and tear ).
POWER
REIGNS SUPREME
THE SHOPPING LANDSCAPE : WHERE CONSUMERS BUY PARTS
Next , we wanted to take a look at ‘ where ’ consumers were buying parts for their motorcycles and their preferred sales channels .
A significant 81 % of respondents favor specialty websites such as Revzilla and Cycle Gear for their shopping needs , highlighting the prominence of online platforms in today ’ s digital shopping ecosystem . Traditional local dealerships still hold substantial appeal , with 75 % of respondents choosing them as their go-to for parts purchase .
Online retailers like Amazon and eBay claim a sizeable 63 % of respondents ’ answers , reinforcing the impact of e-commerce in the sector . The direct approach of shopping from the manufacturers ' websites garners a 38 % preference among participants , demonstrating the trust placed in original manufacturers .
Auto parts stores , motorcycle shows , expos , and classifieds like Craigslist and Facebook Marketplace cater to the rest , with 26 %, 16 %, and 15 % of consumers shopping from these platforms , respectively .
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KEY FACTORS INFLUENCING PURCHASE DECISIONS
We also found five primary factors that influence consumers ' decisions when purchasing motorcycle parts .
Quality emerged as the leading determinant , underscoring the importance consumers place on durable and reliable parts .
Price was the second most influential factor , emphasizing the role of affordability in purchase decisions .
Brand recognition was third , indicating the trust that consumers place in known and reputed brands .
Reviews were the fourth contributing factor . In an era where peer opinions can be shared with the click of a button , consumers rely heavily on the experiences of others to inform their purchases .
Finally , ease of installation ranked fifth , highlighting the desire for convenience and self-sufficiency among consumers .
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SCAN HERE |
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DEEP DIVE INTO SPECIFIC PG & A CATEGORIES
To provide a more detailed understanding of the powersports market , our survey explored brand recognition , preferences , and spending habits for specific parts & accessory categories including batteries , tires , helmets , and exhaust systems .
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BATTERIES Yuasa emerged as the most recognizable brand in the battery category , followed by |