The automotive world is changing.
The traditional car-buying experience is notoriously known for being stressful, uneventful, and disorganized. However, with the future of auto retailing, there are possible shifts that could be game-changing for the industry.
Have you ever felt overwhelmed buying a car? Well, you are not alone. A lot of car buyers get overwhelmed by the process. Luckily, the future of automotive eCommerce can make it a little easier.
Why eCommerce? The Automotive Industry Has Been Stagnant
You can indeed buy anything online now.
Ecommerce has taken over the retail space in the last decade, with a lot of profitable companies being online only. Most brick and mortar stores have taken note, offering online-only shopping and purchase options. However, one industry has seemed not to take note: Car retailing.
The current car retailing experience has been stagnant for the 100 years it has been available. With this lack of change, the process can seem pretty dated and formulaic. People want to buy cars the way they buy everything else, and with this dated concept, it is an ordeal to purchase a vehicle.
With automotive eCommerce, it allows the users to browse and compare prices privately in their homes. They can even apply for a loan, offer a down payment, or also submit photos for a trade-in.
Automotive Retailing Through eCommerce Is More Time Efficient
In a digital age, consumers want things quickly.
With a shift in how we get things done, comes a need to be as efficient with our time as possible. The average amount of time spent in a physical car dealership equates to the satisfaction of your visit. When you buy a car online, it is a more time effective option in a busy world.
Car buyers can search for anything in a snap, and going to a traditional car dealership could seem like an unnecessary headache.
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This time efficiency will only improve, as even traditional dealerships offer eCommerce services and allow for a digital showroom. This will enable buyers to analyze their purchase decision beforehand, and compare their time timeline instead of the dealerships’.
The Growth of Online Car Dealerships
In a report released by Ibis World, online car dealers have a growth prediction of 5% between 2019 and the next five years. That’s a significant margin and not one to be ignored. With this rise comes the possibility of industry shifts that may need to occur.
With the rise of digital automotive retailing comes to a change in the process of buying a car. How will the experience differ from tradition? The industry must look at new trends. It is not only about selling a car and reaching quota.
Additionally, the idea of services has come into play. You can subscribe to your favorite music, search for virtually anything in seconds, and have curated content that caters specifically to your needs.
There could be a shift in the services offered with the digital purchase of a car. With the industry changes and a new market rises, it is anybody’s game on what the standard will be for digital incentives.
These digital incentives could be mobile searching, concierge options, etc. These offer valuable tools to the consumer and allows for that instant gratification they want in a car buying process.
The Future Brings Hefty Competition
With giants like Carvana and Tesla changing the automotive retailing landscape, most dealerships are taking note. Even brick and mortar dealerships are beginning to offer eCommerce services, as they want to meet the demand of consumers.
Automotive eCommerce takes the guesswork out of the process. You can search for nitty-gritty specifics like different parts. Adding these software tools brings a whole new layer to the industry, as customers now have the means to take charge of their automotive retailing experience.
With this shift in the power dynamic, as the buyer can leverage over the seller, it becomes about way more than selling. The future of automotive retailing shows that there will be a hefty competition of online dealerships that offer the best, quickest services to their customers.
Car Buyer Expectations
With a more aggressive shift to digital experiences, car buyers’ expectations will change. The instantaneous world we live in, car buyers will expect a streamlined process in their buying experience. Instead of planning a whole day experience at a physical car dealership, individuals will assume a convenient and effective option for car purchasing.
Even if brick and mortar dealerships coexist with online ones, it will change the way the traditional dealership operates. These changes could include paperless contracts, using eCommerce software to search through vehicles and or even doing virtual test drives.
A lot of traditional dealerships have implemented these practices in their stores. Most dealerships have used social media to promote virtual test drives or other online-only futures. This shift will only continue, as car buyer expectations grow.
The Future of Car Buying Is Digital
The future of automotive retailing looks promising. With the advancement in technology, it will allow for a cleaner and more efficient car hunting process.
Additionally, e-Commerce software will get more refined as more companies adapt to it. This will create a better experience for the user. The new future of automotive retailing also shows that it is not all about selling.
With more competition and more choices, customers can now use their resources to find the best option for them. Digitally purchasing a car saves time, paperwork, and allows for a seamless experience.
The future of car buying looks a lot less like its predecessor. Instead of haggling on a hot car lot, you can search, price, and complete a car purchase on your terms and wherever you are.