I’m brandon arson, president of champion strategy and spokesperson for shopsmart altos, giving you the best information we can when it comes to your next automotive, lease or purchase didn’t want to alarm.
But let’s start thinking really about the rise of omni channels in the automotive space.
In the early 2000s, many firms within the photographic film industry had to make strategic choices about the future of their business.
In response to the major shift from analog film photography to digital photography, fujifilm was one of the few to successfully navigate to this transformation.
Their leader and chairman said that it was a painful experience, but to see the situation as it was, nobody could survive.
So we had to reconstruct the business model.
Today’s automotive ecosystem is being hit with a perfect storm of three major forces, changing how competition and technology advancing into the future of digital and how they are going to be connected with an ecosystem and increasingly empowered consumers.
These three forces are providing new opportunities for innovation model disruption and customer engagement as new players enter the market and begin to capture a share of the valuable stream.
Now, to embrace these forces, automotive retailers will need to consider new retail models and update a distribution channel that hasn’t changed significantly in the past century, based on trends in other industries.
We’re foreseeing certain moves towards omnichannel that retailers for automotive companies, where customers will experience, seamlessly integrated shopping, buying and owning processes, regardless of the channel in which they interact with.
On the back end, the oems, the original equipment manufacturers and dealers will need to align more closely and share customer and sales data to enable an omni-channel customer experience.
Now, according to studies, automotive is the third most digitally influenced purchase coming in only after electronics and home furnishings oems and dealers can learn from industries that have already gone through the omnichannel experience transformation to continue to stay relevant in today’s digital age.
The automotive retail model has been relatively consistent over the last century vehicles and wholesalers by oems to dealers.
The transaction from oem to dealer is financed by captive finance organizations aligned to the oem before the vehicle is delivered via third-party logistics.
The dealer then sells the vehicle to the customer that similarly finances through the captive financing organization or through the dealer’s bank.
This model has been in place even at the rise of e-commerce, bringing major changes to most brick and mortar retailers, as companies like amazon and ebay emerged, offering convenience of shopping and fast, but seamlessly free delivery made a new change in how the consumers, like you, will View business in the future customers flocked online as shipping became more reliable credit cards were more readily available and personal data security was insured by companies like trustee and web trust.
Online retail sales have experienced double-digit growth since 2005, except during the recession of 2008, and it is expected to continue to grow.
We will continue with the second part of this very important shopsmart auto for you, the consumers dealing with the growth of the industry on the next video once again, brad and artisan president champion strategies and spokesperson for shop, smart autos, as always in party you go out And you make it a champion: .