SOUTHFIELD, Mich. — Business information provider IHS Markit today announced the launch of the Market Performance Analysis Tool, the newest part of the company’s WorldView aftermarket online solution. This addition will allow aftermarket companies to analyze unit and dollar volume by product line and compare actual transaction pricing against competition — over time and by geographic regions — utilizing the same WorldView online system currently used to analyze vehicles in operation, original equipment research, and parts catalog coverage, the company announced.
Nearly $2 billion in annual sales transaction data from WHI Solutions (div. eBay) is incorporated into this solution from its Nexpart ecommerce solution across the U.S. and Canada. Monthly sales data from more than 18,000 users is normalized to the auto care industry ACES & PIES standards, making it easy to link to IHS Markit data and providing the user with easily recognizable product and brand nomenclature.
Users can compare brand or product line movement for a given time period and geographic region against the both the total units and dollars for that product line and/or a specific competitive set. Actual transaction prices are also included, allowing for competitive pricing analysis in order to make near real-time decisions based on what is happening in the marketplace. The database is updated monthly, all according to the announcement.
“This new offering fills a need in the marketplace to make decisions based on actual transactional sales data — specifically, a view of what is happening at the counter,” said Mark Seng, IHS Markit’s global aftermarket practice leader. “It also provides the aftermarket with key performance and competitive pricing metrics to help them make more informed category management decisions for their business.”
Originally posted on F&I and Showroom