Market research and analysis consulting firm Frost & Sullivan sees the new digital trends affecting the different ways automobiles are sold, shared and marketed as indications of future massive economic and cultural shifts. It will explore these trends at an upcoming conference in London, England.
“By 2020, the retail store footprint will be 15 to 20 percent less than the current average store size and future garages will incorporate technology at various levels,” said Frost & Sullivan in a news release. “The goal is an engaging digital experience to increase customer loyalty.”
The company predicts that all aspects of the “mobility value chain” will be digitized in the future, “from the shortening of product life cycles due to higher software dependency, over the transformation of car dealerships to the actual sales process and maintaining the relationship with the customer — everything will be coined by the opportunities and challenges digitisation offers,” according to the release.
The company estimates that approximately 40 million people currently make use of app-enabled carpooling services while ride hailing apps are growing “rapidly” to more than 70 million users.
These and other digital-focused topics affecting the automotive industry will be explored on June 29, during the company’s annual industry event “Intelligent Mobility” in London, England.
