5 Upcoming Trends in the Auto Retail Industry

Online marketing is a dynamic concept and it changes very quickly. New trends that arise can have a severe effect on your car dealer website’s marketing efforts. As a result, it’s extremely important to understand the changing preferences of your target audience.

Read on to find out auto marketing trends that you should be aware of.

1. IoT and Connected Cars

As we all know, big data is one of the biggest factors driving change in the online space. It certainly has a presence in the auto sector as well, particularly through IoT (Internet of Things). Even if the rate of adoption of IoT has been a bit sluggish, we are likely to see it being integrated much more rapidly in the coming years, especially in the form of connected cars.

Technology trends in the automotive industry indicates that apps which car owners can use to talk about their vehicle to car dealerships, service centres and even the OEM is likely to be popular. Such apps are already in use today in a limited space, and their usage is set to skyrocket in the very near future.

2. Car Sharing

It’s great news for car rental and leasing companies. Research on future trends in the automobile industry has shown that the people in developing economies across the globe are steadily shedding the sentimental attachment to their cars. As a result, new car trends such as car sharing are gaining acceptance and popularity swiftly.

Another significant reason that car sharing is being used more is due to the fact that a wider section of people feel a sense of responsibility towards the environment. Sharing your ride is one of the easiest ways of being environmentally responsible.

3. Blockchain Capabilities

Blockchain is another term that has huge implications for the automotive sector.

One major problem that car manufacturers, dealers and owners face is spare parts that aren’t genuine. A blockchain based supply chain can block out spurious parts from the entire system.

Apart from increasing transparency, blockchain can also be used in improving the cost-efficiency of the system, eventually driving down the pricing of parts.

4. More Services Migrating to the Cloud

Another big trend in the car industry is the integration of cloud technology. Manufacturers, owners and dealers will steadily increase the number of services they use on the cloud as they understand its security and the fact that it can be easily accessed from any location.

Migrating services to the cloud and making them accessible from anywhere also has the added benefit of lowering costs, making it a win-win scenario for both vehicle owners and the industry.

5. Micro Moments

Research has revealed that a new car shopper performs nearly a thousand interactions on the internet during the time period that leads up to the purchase of their vehicle. These micro moments are segments of the buying thought process that include questions pertaining to the best car for them, the affordability for the buyers, the best deals, where to purchase it from, and so on.

These micro moments can reveal where shoppers are, what they’re searching for, and what answers they need in order to purchase or lease a vehicle, all of which are very valuable information for your auto dealership.

Auto dealers who provide sound answers to these micro moments gain credibility and customer loyalty.

For example, prospective buyers who are in the "can I afford it” phase will be in search of information about the financial options available to them. During this time, you can ensure that your car dealer website has all the offers, promotions, discounts, rental/leasing plans and so on, available on display.

For more information on future auto trends, Contact Us.