In a time when uncertainty and volatility appear to be the new norms for the global economy, TrendLens, the Auto Care Association’s online industry research platform, can help with industry clarity by providing up-to-date, interactive data and insights.
“TrendLens offers a data-based perspective into which market-influencing factors are affecting the industry, so you can make effective, well-informed decisions for your business when it counts,” the association said in a news release.
New this year, more than 30 leading economic and industry indicators data will be added to the TrendLens platform. The new features will provide TrendLens users a clear understanding of how current nationwide factors may be influencing their product sales, and those across the market, with the most current statistical and behavioral data available.
“Insight from the economic indicator data will give users a more complete picture of how they’re performing within the industry as a whole and a better perspective on the trajectory of several key overall industry trends and their impacts,” the association said.
National economic indicators available on the Demand Index will include:
- Consumer confidence
- Metals and metal products prices
- New and used car dealers sales
- Aftermarket employment
- Miles driven
- Medium- and heavy-duty vehicle sales
- And more
The new economic and industry indicator data will be free to all Auto Care Association members while in beta and made available by April 13. The indicators will remain free to active Auto Care Association members with a subscription to the Demand Index once testing is complete.
Five New Product-Line Categories
The Demand Index, a key tool featured on the TrendLens platform, provides industry-specific, expertly curated data each month on the performance of 20 product-line categories, including five new categories for 2020, with more coming soon. The Demand Index enables businesses to compare how their behind-the-counter product sales are performing against the market.
The Demand Index product categories include:
- NEW* A/C compressors
- NEW* A/C components
- NEW* emissions system
- NEW* fuel injection
- NEW* power steering
- Brake friction (pads and shoes)
- Brake steel (drums and rotors)
- Brake calipers
- Charging systems
- Chassis suspension
- Engine management sensors
- Fuel pumps
- Hoses and belts
- Ignition components
- Ride-control suspension
- Starting systems
- Water pumps
- Wheel bearings and seals
“Combining these new TrendLens data points with monthly insight from the platform’s Demand Index tool will give users a quick, timely, comprehensive picture of exactly which factors are impacting their product line sales, so they can make strategic decisions in real time,” said Scott Howat, business development executive, Auto Care Association.
In these unpredictable times, the Auto Care Association’s TrendLens provides clarity and extensive data so that members can focus on what is most influencing the industry and impacting their businesses.
To learn more about how you can gain these insights for your business, visit autocare.org/trendlens.