MARKET INSIGHT
by Philip Nothard Insight & Strategy Director, Cox Automotive
2021: THE TRENDS TO LOOK OUT FOR As the world’s largest automotive services organisation, Cox Automotive are committed to helping dealers navigate uncertainty in the wake of COVID-19 and help them on the road to recovery. In his last update, Philip Nothard, insight and strategy director for Cox Automotive UK, shared some of the key trends that emerged in the car market in 2020. Now in the new year, Philip takes a deeper dive into how these trends could evolve in the coming year and how retailers can capitalise on them.
DIGITISATION, E-COMMERCE AND THE END-TO-END CUSTOMER JOURNEY Much has been written in recent years about the shift from a service economy to the experience economy; a move which has seen organisations focus on the way in which the customer accesses their services, rather than the service itself. Indeed, the original advocates of the experience economy model, Pine and Gilmore, talk of four key focal points on the experiential journey: Education, Escapism, Entertainment and Esthetics. When organisations create the digital customer experience, they should be thinking about how to meet all four elements – providing information, aspiration and diversion or distraction, humour or fantasy, and something which draws on all the senses. Appealing to the 4Es, many automotive organisations create immersive advertising experiences
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