In retail, consumers have come to expect a swift and seamless experience online from beginning to end (and beyond the point of purchase). This is what’s known as ‘the Amazon effect’.
Car manufacturers (sometimes called original equipment manufacturers or OEMs) and dealerships have struggled to adapt to the complex demands of digitally-savvy consumers. The experience of visiting a car dealership does appear somewhat alien compared to the ‘see it, buy it’ nature of other types of retail.
Of course, digitisation of the purchase journey is not the only thing that has disrupted the automotive industry. Environmental concern, the move towards mobility, new finance products, and the technology in the cars themselves have also changed the way consumers perceive and purchase cars.
According to the Society of Motor Manufacturers and Traders, UK car sales saw the biggest decline in 2018 since the financial crisis 10 years prior. Germany’s Center for Automotive Research has also forecast global car sales to fall to 79.5 million in 2019, down from 83.7 million last year.
In order to succeed in a challenging market, automotive brands now have no choice but to adapt to changing consumer expectations. This briefing will cover how automotive brands are innovating the customer experience (CX) through digital technology, and the trends that look set to impact the industry in future.
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