Mastering omnichannel - a customer-centric approach that integrates all routes to a retailer, including in-store, mobile and online – is essential if franchised retailers wish to avoid losing used vehicle customers. He also cites the importance of embracing a connected on and offline approach to stock sourcing.
Writing in the latest AutoFocus, Cox Automotive’s quarterly insight update, Steve Young, managing director of ICDP, a specialist automotive retail and aftersales consulting business, says that retailers must develop new business models to thrive in the age of electrification.
Cox Automotive highlights the need for a unified sales process underpinned by IT infrastructure that is accessible to manufacturers, retailers, and customers. Technology can unlock the potential of customer data to create a more efficient retail environment. However, progress in creating such an integrated system has been slow.
