14 • August 2023 • Powersports Business

HOW MUCH HAVE YOU SPENT IN THE LAST YEAR FOR EACH OF THE CATEGORIES OF PARTS FOR THE CURRENT MOTORCYCLE ( S ) YOU OWN ?

quality aligned with purchase decisions in this category .

WHAT DOES THIS MEAN FOR STAKEHOLDERS ?

For manufacturers and retailers , understanding the preferences and behaviors of the powersports consumer is critical . With the knowledge that quality and price are top considerations , stakeholders can enhance their value proposition by focusing on providing high-quality parts at competitive prices . Similarly , the emphasis on brand recognition suggests that robust marketing and brand-building efforts can yield significant dividends .

With most respondents choosing to shop on specialty websites and local dealerships , businesses could leverage online platforms and local partnerships to improve accessibility and sales .

Digital strategies , such as user-friendly websites , targeted ads , and engagement on social media , can enhance brand visibility while collaborating with local dealerships could increase physical reach .

The deep dive into specific part categories sheds light on the dynamics of each segment . Stakeholders can leverage this information to refine their offerings , focusing on aspects that matter most to consumers . For example , in the battery segment , the frequent replacement cycle indicates a continuous demand to which businesses can cater .

Exhaust Systems

Suspension Parts

Braking Systems

Tires and Wheels

Electrical Systems

Body & Frame Parts

Transmission and Drivetrain

Fuel Systems

Lighting Equipment

Accessories & Cosmetics

Performance Tuning Parts

Maintenance Tools & Equipment

Other

Finally , the willingness of consumers to pay within certain ranges for specific parts allows stakeholders to better price their products and services , ensuring competitiveness while maintaining profitability . These findings offer a roadmap for

36.2 %

34.5 %

31.1 %

42.8 %

48.8 %

46.8 %

47.6 %

58.8 %

57.9 %

57.1 %

62.3 %

70.7 %

75.2 %

1.2 %

23.2 %

39.0 %

24.2 %

33.8 %

19.8 %

19.0 %

23.5 %

stakeholders in the powersports market . By understanding consumer preferences and adapting to them , businesses can strengthen their position in this competitive landscape , driving customer satisfaction , loyalty , and ultimately , business success .

9.1 %

10.1 %

10.0 %

22.9 %

2.5 %

14.5 %

40.6 %

22.1 %

10.7 %

23.8 %

29.7 %

20.9 %

25.0 %

19.2 %

11.4 %

19.9 %

24.5 %

8.5 %

8.7 %

18.1 %

8.9 %

3.0 % 0.4 %

1.6 %

4.4 % 2.2 % 0.3 %

7.7 %

5.3 %

5.7 % 4.6 %

6.0 %

8.5 %

3.5 % 1.6 % 0.3 %

0 % 10 % 20 % 30 % 40 % 50 % 60 % 70 % 80 % 90 % 100 %

None Under $ 100 $ 100 to $ 499 $ 500 to $ 999 $ 1,000 to $ 2,999 $ 3,000 to $ 4,999 $ 5,000 or more

4.8 %

7.4 %

0.6 %

2.0 %

0.6 %

0.3 %

0.8 %

1.9 %

2.5 %

0.3 %

4.0 %

4.8 %

Tristin Burdick is a research analyst for EPG Specialty Information . This survey was conducted with members of EPG ’ s MyVoiceRewards consumer panel . To see the full survey results , visit : tinyurl . com / he8hvcra .

B R O K E R A G E S E R V I C E S

PROUD PARTNERS OF :

CYCLE SPRINGS POWERSPORTS Clearwater , Florida Acquired by Dimmitt Automotive Group from Marty Skapik and Noel Hughes

BONEYARD HARLEY-DAVIDSON Winterville , North Carolina Acquired by Steven Towers & Bobbie Krull from Marc Ingwersen & Jerry Carrillo

DOWN HOME HARLEY-DAVIDSON Burlington , North Carolina Acquired by Phil Mitchell & Dan Roland from Fred Bosshardt

BARNEY ’ S MOTORCYCLE & MARINE 3 Locations , Florida Acquired by Dave Veracka from KC Wood & Todd Hempstead

For a confidential consultation and complimentary estimate of value on your business , please contact us :

Harley-Davidson & Powersports Division George C . Chaconas , Senior Partner , CBI / M & AMI Office : 813 . 569 . 6250 | Cell : 813 . 245 . 2535 Email : george @ performancebrokerageservices . com Address : 2102 West Cleveland Street , Tampa , Florida 33606

NORTH AMERICA ’ S HIGHEST VOLUME DEALERSHIP BROKERAGE FIRM 949 . 461 . 1372 • PERFORMANCEBROKERAGESERVICES . COM