CarMax is utilizing their simple omni-channel sales experience to bring increased revenue in their Atlanta market.
The transparent finance architecture at CarMax is tailor-made for the web.
CarMax plans to bring the omni-channel experience to the majority of its customers by February 2020.
The days are numbered for old-fashioned car dealerships. My thesis is that the omni-channel strategy is working extremely well for CarMax (KMX). This is expected given the consistent no-haggle pricing model at CarMax and the transparent financing model.
The 2019 10-K explains the omni-channel experience:
As we roll out our new omni-channel experience, our customers will be empowered to buy a car on their own terms, either completely from home, in-store, or through an integrated combination of online and in-store experiences.
In the 2Q20 earnings call from late September, CEO Bill Nash said there were double-digit comps in Atlanta, the original omni-channel market, for the third quarter in a row. He specifically said Atlanta continues to outperform in both comp sales and appraisal buys.
Customer Experience Centers [CECs] are required for the omni-strategy and they need about 300 associates each.
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