Generation Y and Z are the next group of automotive purchasers. It is clear the traditional brick-and-mortar approach will be an outdated ideology. The expansion of digital platforms will be the method of choice for these consumers. Will this mean the surrender of dealer advantage and control? A decline in the customer service overall experience? Or, will it mean a complete retail digital transformation? This article will focus on these important points and offer a sense of direction and understanding for the retail body.
The idea that making information readily accessible to consumers results in a decline of dealership control, is an inaccurate statement. These consumers actively look for information and the retailers who meet this need will be looked upon favorably. Furthermore, these consumers will continue to engage in third-party platforms (i.e. YouTube, Google reviews, Mobile Apps etc.) to enhance their research objectives before settling on a desired brand, model and retailer. From a retailer standpoint, the more effective your sharing options are, highlights your desire to be progressive and adaptable to these future retail purchases.
The term customer service has been the growing trend in the retail industry for decades. From its origin of direct one to one contact, to now recognizing and engaging the customer on different digital levels. Although, the term remains the same, its meaning has become more diverse. The expansion of the retail digital footprint should not be viewed as a replacement for customer satisfaction but, an addition to. Customers still expect to be treated well however, they also want to have easy access to information pertaining to their brand and retailer of choice. This includes but not limited to, dealer inventory, product selection, transparency with the finance & lease process, while also respecting individual timing sensitivity. The fact is, if a consumer wants to research the purchase of their next automobile at 2am they should be able to. Customer service has evolved by integrating the full purchasing cycle without ever stepping foot into a retail facility.
This leads to the concept of digital solutions. To some, this change is a hard pill to swallow. However, progressive change is paramount to future growth and sustainability for any retail industry. Migration and the investment towards new digital solutions will allow greater connectivity with more opportunity for potential clients. Retail branding and advertising via social media platforms while promoting client options is becoming the norm. Retail and OEM partnerships with online and digital providers are also being established at an accelerated speed. Recognizing that this new purchasing avenue is being considered by consumers has now become a mandate for OEM's. We are right on the cusp of the new process in automotive retailing. Those on the progressive front will undoubtedly lead the way.
It is safe to say, we will always have a need for the automobile. What will change are the tools that will provide easy access for consumers while adding tremendous value to retailers. The next generation of car purchasers are more digitally savvy and will come to expect more purchasing alternatives and flexibility by the concept of digital retailing.
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