Digitization is disrupting the automotive retail space

Digitization is disrupting the automotive retail space

Automotive dealers across the globe are embracing digitization to bring about a total change in the way they do business.

Improvements in manufacturing and advancements in technology are disrupting the automotive industry. Likewise, automotive retail is a huge economy world over with people buying and selling, maintaining, and servicing their cars.

With digitization disrupting every aspect of the automotive sector, today everything is just a click away. To improve productivity and offer seamless service to customers, digital transformation is no doubt the need of the hour for automotive dealers as well.

With people adopting digital technologies, what with the social distancing norms gripping every sector following the outbreak of the COVID-19 pandemic, even automotive dealers are not lagging behind in offering digital services for their customers. The new-gen technology landscape is offering an excellent opportunity for automotive dealers, who were largely on manual processes, to become more competitive.

In the current scenario, where customers are thinking twice to physically visit a car showroom or a servicing centre, automotive dealers are collaborating with technology companies to offer a new experience to their customers, enabling the latter to make informed choices when it comes to buying a vehicle, getting their vehicles serviced, or for regular maintenance.

Today, with consumers spoilt for choice receiving outstanding, personalized retail experiences from e-commerce companies, expect the same in their vehicle acquisition, service needs, and operational efficiencies as well.

To redefine competition and gain a competitive edge, car dealers are also offering end-to-end services such as new offers, delivery status, service schedule, renewal of insurance premium and many more customer-centric services powered by artificial intelligence and machine algorithms.

While the power of Big Data and Analytics, Artificial Intelligence, Machine Learning, and the Internet of Things (IoT) is fast proving to be a game-changer for the automotive industry, even car dealers are looking at data analytics to bring about a total change in the way they do business.  To engage/retain old customers and to attract new ones, they are investing big in emerging technologies and making the necessary infrastructure changes.

Cloud software providing seamless connectivity between manufacturers, dealers, and customers have helped car dealers go several steps ahead to service the customer, and  thereby improving their sales module as well as customer experience.

Sitting at a dealer's showroom for hours is no more an accepted practice.  With one click customers can get on a virtual session with a dealership. The dealership staff can walk them through their showroom, showcase new models with the help of 3D visuals, and help the customer make an informed buying decision.

Technology has definitely enabled the modernization of the entire consumer journey in the automotive retail industry providing the best experiences and operational efficiencies.  It is helping everyone in the ecosystem save massive amounts of money.