Post COVID-19 Emerging Markets for the Automotive Industry
With social distancing and stay-at-home orders still in place, consumer behavior has shifted to online, leaving dealerships eager to transform their marketing strategies and leverage their websites for most of the transaction.
Naturally, your website has become the most competitive space to engage shoppers and win market share. The battle for the sale which used to take place in the showroom is now taking place online.
And we see this in the numbers: throughout the 2020 pandemic crisis, shopping engagement has remained robust. Specifically, new buying behaviors from markets that wouldn’t be looking for a car pre COVID-19, are now interested.
Our latest report covers the predictions of new markets which include millennials who used to rely on ride-sharing and scooters and single-car suburban families that are looking to buy a second vehicle. This is not just hopeful for a speedy recovery, but it suggests that dealers need to prepare to engage these markets. What worked dupre COVID-19 will probably not be sufficient in a post COVID-19 era. It will be critical for dealerships to intelligently identify, target, and engage online shoppers.
Today, more than ever, dealers adopting the right technologies can make the difference between thriving or languishing in the new market reality.
To check out other reports and resources we’ve published, please visit https://www.autoleadstar.com/covid19-solutions/.