London – A study of the UK tire market suggests that an increasing number of customers are turning to online sales channels for their tire purchase.
The report published by Bharat Book Bureau on 21 Nov says: “In terms of sales channel, the offline platform holds majority share in the UK 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 UK.”
The report also highlighted that demand for replacement tires in the UK 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 epicentre of tire demand in the UK