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A generation of digital progress has disrupted the mobility sector's control of customer interaction. As a new decade begins, the commoditisation of e-commerce across the mobility sectors presents itself as perhaps the biggest threat – and opportunity – for change. Customer led demand for innovation will leave no part of the automotive industry untouched. The coming decade looks set to permanently re-invent our perception of mobility.
The first online marketplaces for used cars appear. Previously, consumers were dependent on local dealers and the purchase experience was almost 100% physical.
Even when considering a model, awareness was drawn from traditional advertising, and research was largely conducted via printed brochures from dealers.
Online broker platforms appear to provide support during the sales process between authorised dealers and the end consumer.
Sales of new cars focused on the “build-to-stock” model. Online research becomes a crucial part of the experience as platforms begin providing online booking, car configurators and e-brochures.
Consumers research vehicles across different channels. Competition for leads between platforms increase, leading to a professionalisation of the digital experience.
Car subscription services, digital dealerships, and innovative third-party online platforms appear. OEMs increase their focus on multichannel activities – some of them with a direct sales approach.
The process of buying a car continues to undergo digital reinvention. As consumers constantly switched from digital to physical channels (pre- to post-purchase), aligning the online and offline interactions becomes an integral part of the purchase experience.
OEMs increase their focus on selling their cars directly to consumers (DTC) and some of them start launching D2C pilots.
COVID-19 becomes a catalyst to force automotive online retail models to be adopted by most OEMs.
OEMs use an omnichannel approach to compete with evolved online marketplaces, car subscription and sharing services and new players focused solely on digital-first direct-to-consumer platforms. Integration of analytics, pricing tools and financing models in the online purchase process is now a standard application to increase leads.
* Global Vehicle OEMs’ New Online Retail Strategies, Forecast to 2025. Frost & Sullivan.
By using our Sonar Trend Platform, we have scoured millions of online sources to identify the most relevant trends related to automotive e-commerce, based on their occurrence within expert media articles, mass media, patents and scientific publications. The trends are placed in different quadrants of a matrix that displays the growth and citation volume of each topic.
New and digital first players are capitalising on well designed digital native solutions, challenging the old power dynamics of carmakers and dealerships.
Traditional service models are being leapfrogged as new D2C platforms emerge creating new concepts of ownership and a new life for used cars.
Cars are now more than a means of mobility; they are objects able to collect and share data. New data driven business models open up new opportunities for aftermarket players.
Emerging technologies and the rise of connected, autonomous, electric, and shared (ACES) mobility are disrupting the traditional automotive business landscape.
Digital customer experiences are profiting from new technologies enriching the whole customer journey from marketing, product experience, to purchase and service.
The traditional automotive value chain is experiencing increasing competitive pressure from new players and business models, disturbing the existing power equilibrium.
E-mobility, IT giants and new agile and digital tech businesses capitalizing on as-a-service business models are disrupting vehicle sales as well as aftermarket OEM and dealership structures.
Consumers - especially the younger mobile-first generation - are native to e-commerce.
They see purchasing via digital channels and interfaces with a service mindset, expecting, for example, cross-channel and cross-device buying, 24/7 support, free as well as instant delivery / returns and personalized offerings.