Over the last decade there has been a rise in retailing concepts and the paradigm shift in the preference of customers to move from traditional retail, to that which enables them to access information easily anytime and from anywhere, are forcing automakers to rethink their business model.
The automotive OEMs are increasingly under pressure to enhance their online presence to augment sales and to keep pace with customer mobility from brick-and-mortar model to the online retail industry. With the increasing penetration of Internet and the access to detailed product information, consumers are willing to buy products after online research and evaluation. They no longer have to check out in several stores to find out the brands, prices and features, and other relevant information about the product they want to buy.
Technavio’s analysts forecast the global automotive e-retail market to grow at a CAGR of 33.70% during the period 2017-2021 (full report available here).
The market is divided into the following segments based on geography:
• APAC
• Europe
• US
Technavio’s report, Global Automotive E-retail Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
• Alibaba Group
• Paytm
• Amazon
• Flipkart
Other prominent vendors
• eBay
• Snapdeal
Market driver
• Growing traffic congestion in urban region driving sales of two-wheelers.
• For a full, detailed list, view our report
Market challenge
• Stiff competition to new car sales due to fall in prices of used cars.
• For a full, detailed list, view our report
Market trend
• OEMs using social media and vehicle research portals for marketing.
• For a full, detailed list, view our report
SOURCE Reportlinker
Edited by G. Davila
