Aftermarket
/ˈæftərmɑːrkɪt/
Definitions
A secondary market for parts, accessories, or equipment that are related to a product, typically consisting of products that are manufactured, sold, distributed, and used to modify or repair items that are beyond their manufacture.
/ˈæftərmɑːrkɪt/
The secondary market for parts and accessories
The aftermarket for smartphones in Asia is very vibrant and diverse.
💡 Simply: The market for parts and accessories sold after a product is purchased.
More Examples
He runs a small business selling aftermarket parts for classic cars.
How It's Used
"The company specializes in high-quality aftermarket parts for classic cars."
"Tech companies often offer extended warranties for their products through the aftermarket."
Idioms & expressions
aftermarket maintenance
The process of repairing, upgrading, or providing additional services to a product after the initial purchase.
"Proper aftermarket maintenance can extend the life of your home appliances."
The term 'aftermarket' first appeared in the 1920s and 1930s, derived from 'after' and 'market.' It originally referred to post-production sales of accessories and parts for automobiles. Over time, the term expanded to include any market for secondary goods and services related to a product.
Initially, the term 'aftermarket' was used solely in automotive contexts, referring to the supply of parts and accessories for vehicles after they were sold. By the 1950s, it began to encompass a broader range of products and services across various industries.
Memory tip
Remember that 'after' implies what comes next, so think of parts and services coming after the initial purchase of a product.
Word Origin
"Derived from the words 'after' (subsequent in time) and 'market' (a place for buying and selling goods和服务), indicating a market for goods related to a product after its manufacture."