|   Business


  |   Business


Automotive Ecommerce and the 2021 Economy

We made it to 2021, and a variety of industries are doing things differently in our soon-to-be post pandemic landscape. Growing during an economic downturn means adapting to new consumer trends, particularly in the ecommerce sphere.

The automotive industry is no different, and they’ve fallen onto some interesting tactics to keep sales high and reduce the financial impact of the COVID-19 outbreak.

From basing an online purchase on a sole car stock image to using immersive VR to test drive a vehicle online, there are a ton of ways the industry has been reaching consumers.

Read on to learn more about how the automotive ecommerce sphere is expected to grow in the coming year.

Online Buyers Prefer to Use Mobile

Mobile connectivity continues to lead the ecommerce sphere this year, and apps are still the preferred medium for more than 30% of online consumers.

Reaching this demographic means auto brands have optimized their online inventories and financing platforms for mobile connectivity.

Using mobile-friendly websites, instant calculators, and dynamic apps is helping growing and establishing car brands to grow their pipeline - despite a rough economic market.

Used Cars Made a Comeback

Rather than striving for brand new models, more consumers are taking the practical route and buying preowned. Online retailers like Carvana, Autotrader, Edmunds, among others have made it easier than ever to purchase a vehicle with just a few clicks.

The average consumer can save thousands by simply choosing a model that’s a few years old over the version that just came out.

Since the pandemic threw many into a financial tailspin, consumers are responding by being more frugal with their purchases. Since automotive costs are a major expense in most households, this is one change that has allowed Americans to continue working toward these major milestones in an economic crisis.

Alternative Fuel is Taking Over

E-vehicles and HOV-friendly cars are becoming the new norm, and interest in electric automotive is reaching an all-time high. Increased affordability, improved access to charging stations, and improved market accessibility has driven the market into the hands of multiple car brands.

Instead of just one retailer ruling the electric vehicle market, brands from BMW to Ford are offering electric or hybrid models to appeal to this growing market demand.

Younger consumers have a vested interest in preserving the environment, and recent events have driven the demand for sustainable transportation.

Not only are electric vehicles becoming more affordable than ever before, but they’re coming integrated with the latest tech systems and tools such as:

  • AR/VR navigation

  • Hands-free entertainment

  • Self-driving capabilities

  • Remote control systems

  • Cloud-based security and tracking

Increased Transparency and Security

Driving safely and seamlessly is proving to be a primary concern for the automotive market, especially after cyber crime climbed record numbers in 2020. Now, car brands are putting a higher emphasis on streamlined and syncable solutions that driver’s can take with them on the go.

Just like video doorbells have risen in popularity, remote tracking apps are helping drivers to keep tabs on their vehicles. From the asset’s location to its repair maintenance schedule, owners are learning to expect these features as an industry standard.

The ecommerce sphere is continuing to grow amid changes in social regulations and digital innovation. As consumers become more and more dependent on the internet for everyday life, the automotive sphere is turning to technological advancement to stay ahead of the curve.

These are just a few of the key catalysts for the growth in automotive ecommerce through 2021.

About The Author:

Aqib Ijaz is a digital marketing guru at Eyes on Solution. He is adept in IT as well. He loves to write on different topics. In his free time, he likes to travel and explore different parts of the world. You can read more of his blogs at eyesonsolution.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes

  • Market Data

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.