Bill Wade on business growth
From HD Cast talks with industry expert Bill Wade · · CVSN
“I'm working with one right now who's doing about 70 million dollars in parts, about 20 percent of that is in light truck accessories and a lot of that is through the door, it's walk-in business. This is not a business known for its walk-in trade, so if you want to get people into your shop, that's a great way to do it.”
On , Bill Wade, EVice President & Chief Information Officer at INDEPENDENT BK GRP INC, spoke about business growth during HD Cast talks with industry expert Bill Wade on CVSN.
About Bill Wade
In a September 2020 interview on HD Cast, Bill Wade discussed trends in the automotive parts distribution industry. Wade observed that distributors are increasingly recognizing the value of adding service to their business, stating that selling parts alone is not very profitable but that installing parts in one's own garage can generate significant revenue. He also noted a reversal of roles, with dealers opening independent parts stores while aftermarket shops expand into full-service auto care. Wade addressed the impact of e-commerce, arguing that businesses that avoid selling on the internet are missing substantial opportunities. He described what he called the "Amazon effect," saying that online retailers have trained purchasers to expect next-morning delivery with prepaid shipping. Wade also highlighted growth in light truck accessories, mentioning a distributor he works with that generates about 70 million dollars in parts sales, with 20 percent coming from walk-in business in that category.