Shopping Centers Today

APR 2017

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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16 S C T / A P R I L 2 0 1 7 Fewer people are fixing their own cars, so auto parts retailers are ramping up business with repair shops instead By Beth Mattson-Teig Tune-up AT HOME IS SE T TING UP HOME IN E VERY STATE 18 BLUEMERCURY IS GROWING, AND HOW 20 CURRENT MEDITATION IS A GYM FOR THE MIND 22 J.C. PENNE Y STAYS COMMIT TED TO STORES 22 S T O R E F R O N T S W H AT T H E T E N A N T S A R E U P TO A uto parts retailers may be in for a bumpier drive than they have been accustomed to. Sales to do-it-yourself customers are slowing, market consolidation is tightening, and competition from Amazon.com, in particular, is toughening. But even with all that, the U.S. retail market for auto parts retains horsepower. The industry generated some $56.3 billion in revenue last year and has grown at an annual rate of 1.9 percent over the past five years, according to IBISWorld. The four largest retailers — Advance Auto Parts, AutoZone, NAPA Auto Parts and O'Reilly Auto Parts — together comprise about 60 percent of this market. One of the biggest challenges facing the auto parts sector is slowing demand from its key customer group: the DIY customers looking to do their own maintenance or repair work. Individuals and households accounted for 61.5 percent of total sales last year, according to IBISWorld. But the retail side, selling

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