In just a few years, the Internet has become the first step throughout the customers complex purchasing journey of a new or used vehicle. Digitalization now requires a personalized marketing strategy, polished content, and optimized lead management, for retailers whose online sites complement vendor applications and compete with traditional infomediaries.
One-third of companies fear they will go out of business in the next 36 months if they fail to transform their business model …
Econsultancy has just published, in partnership with Sitecore, a report entitled "Reinventing Trade", which provides a snapshot of the global commerce market.
The obligation to transform
This research reveals that 60% of companies say their business model is under very strong or strong pressure to adapt to changing market conditions, with one third worried that this pressure could threaten their existence in the next 36 months.
A majority of the companies surveyed identified a new source of growth by combining business expertise with personalized and tailored customer experience.
Two-thirds of respondents agree that by creating personalized content tailored to their customers they can compete with the big brands.
E-commerce , an engine of growth
While enthusiastic about the potential for improved business outcomes from creating an appropriately customized customer journey, respondents generally have doubts about being able to work with and against powerful players such as Amazon and Alibaba and measure up to them.
Almost the same percentage of respondents consider that e-commerce markets are a significant opportunity for growth (47%), but (46%) are worried about working with them.