Every day, we sit at our computers and read the constant flow of headlines that cross the wires. In our meetings, we hear about our competitors, from what they are working on to how they are getting it done.
It is these stories that drive organizations to innovate and perform better. It is these conversations that create change, build great customer experiences, and forge lasting relationships.
The CCPA requires automotive companies that conduct business in California to comply and protect the privacy of all consumers. Learn more about the CCPA’s impact on the automotive industry, compliance hurdles to expect, and how to address data privacy challenges.
In this collection, we look at key trends in the automotive industry and offer specific insights into:
- Market Forces
- Digital Experience
- Business Optimization
- Emerging Technologies
Here are a few trends featured in the automotive guide:
- More than half of online automotive parts and accessories shoppers will go to a competitor if a product is out of stock or on backorder. As a result, dealers may need to make better utilization of dealer management systems for parts and cars. Not only will this allow them to keep up with inventory, but dealers can also begin to engage in some predictive analytics to increase sales in the long run. CBT News
- New technologies offer opportunities to collect data because they tend to be electronic, digital and often connected to the cloud. Forbes
- 3.31% of C-suite executives consider delivering seamless digital/in-store automotive experiences and leveraging online resources to influence choice as a critical model to win and retain customers. EY
- “Aside from attribution, personalization is the next biggest challenge, segmenting the customers and speaking to them on their terms.” – Joseph Barbagallo, Manager, Digital, Social and CRM, Jaguar Land Rover North America eMarketer
- Marketing budgets are swelling, particularly for digital services that help companies manage their own direct-to-consumer media channels in social media, email, and their dealer websites. Borrell Associates
- 6.87% of Americans dislike something about car shopping at dealerships, and 61% feel they’re taken advantage of while there. Jazel Automotive
It’s hoped that the trends and statistics presented will inspire and motivate you on your quest to become or remain an industry leader.
You can download the automotive trends guide below.