Facebook-BCG report outlines how 1 in 4 consumers will consider purchasing a car online for a zero contact consumer journey
This report on the automotive sector offers solutions for carmakers to leverage the power of digital as a road to recovery with more than 85% digital influence in urban consumers.
The world post the COVID-19 pandemic is certainly going to change the way people move around, especially in a population-dense country like India. The thin line between the physical and the digital world is increasingly blurring post-pandemic. Needless to say, the Indian auto sector is one of the early adopters of digitization. Though the initial challenges were daunting, the pandemic has placed a spotlight on the need for dealers to act quickly in adopting digital tools and practices for the future.
According to this report based on the 4-wheeler category, consumers are to become more value-seeking in their choices, given budgetary constraints with 50% consumers planning to increase spend and 33% planning to trade down to less expensive brands.
Depth of digital influence expected to rise for 4-wheelers as 65-70% consumers expected to finalize the model before going to a dealership. Consumers will thus avoid public transport, drop in shared miles will increase usage of private cars as well as create some entry-level demand. People who prefer to travel by private transport v/s public increased to 48% vs 33% pre-COVID-19.
How should brands respond – Now. Next. Beyond.
At such crucial times, brands should hit hard on the nail with digital showrooms and online experiences to both the audience and the brand's benefit. As re-inventing and re-imagining become the buzzword in the automotive world today, smart marketing platforms like AI and VR become crucial in a post-COVID-19 marketing funnel.
