LONDON (Dec. 8, 2014) — A study of the United Kingdom's tire market suggests that an increasing number of consumers are turning to online sales channels for their tire purchases.
The report, published by the Bharat Book Bureau on Nov. 21, says: “In terms of sales channel, the offline platform holds majority share in the U.K. tire market, indicating continued preference among consumers to buy tires directly from suppliers and dealers.
“However, the online sales channel is expected to exhibit rapid growth during the forecast period, supported by increasing Internet penetration in the U.K.”
The report also highlighted that demand for replacement tires in the U.K. was “substantially higher” than OEM tire demand, with the latter segment accounting for merely 20 percent volume share of the total market.
Tire demand, according to the report, is mainly concentrated in England, which accounts for more than 85 percent of the overall tire demand in the region. Greater London — owing to its expanding population and large vehicle fleet size — is the epicenter of tire demand in the U.K., the Bharat Book Bureau said.
Shahrzad Pourriahi is a correspondent for European Rubber Journal, a UK-based sister publication of Tire Business.