When you think of the disruptive forces ripping through consumer behavior, sales and marketing right now… and that cars and traffic seem to be at the very epicenter of change … do you ever stop to ponder how it will affect you as a car dealer?
Will you even be in the business of selling cars in 2030?
Personalized and fun
Recently, a group of McKinsey partners gathered to discuss how car dealerships should evolve to keep up with new customer needs and expectations. They had asked thousands of customers if car sales should be like Amazon, or more like Apple or any other specific business model. One conclusion was that there is no single way to suit all potential buyers. But that customers will always prefer a buying process that is personalized and fun.
choose between brands?”
Based on results from the study, one of the McKinsey consultants highlighted two fundamental questions: With all relevant information really be easily available online? And, will consumers even choose between brands? Or will they rather go to a brand-neutral site that recommends a few alternatives based on personal needs, style, and (for some) what personality you want to express by owning and driving a certain car?
Emotional handshake
One consultant predicted a further separation between sales and services but believed that many buyers will still look for that rather emotional final handshake with the salesperson. Especially so when buying and driving luxury and expensive sports cars.
Another, more fundamental question raised by potential car buyers was: Will I still want to limit myself to drive a specific car seven days a week? Or do I want a cool convertible for the weekend? An all-wheel SUV for the skiing vacation? And public transport for every day commuting?
owning a specific car?
For many people, cars are becoming a commodity, rather than a way to express their personality. They may well find customized access to whatever vehicle you need more attractive than a static three-year lease of a specific car.
Local mobility service
Going forward, many retailers will choose to specialize, catering to certain customer types or needs. Another likely role for the local dealership is to provide a local mobility service where they still can benefit from their local presence, insight, and connections. But, to stand up to new players and direct competition with OEMs, they will increasingly need to prove their worth to the customers. The days of a local monopoly based on geographic location alone will probably be gone.
location will probably be gone
The digital buying process, electrification, car sharing, and other current trends are well underway and in 2030, nine years from now, your business will most likely have changed beyond recognition.
But, whether we choose to rent, lease, share or buy the cars, we are bound to look for the precisely right set of car features, presented in an attractive and informative way: www.phyron.com