Like most other retailers, automotive retailers face unprecedented challenges with the COVID-19 crisis. Lockdowns and economic uncertainties are disrupting car-renewal plans, and to prevent the spread of the virus, people are avoiding showrooms.
These restrictions are putting new pressure on the industry. European light-vehicle market projections for 2020 anticipate a decrease of around 20%. They’re also presenting a unique opportunity to modernize – for the industry to redesign its distribution system, and for retailers to digitalize their sales experiences.
Wipro’s AutoInsights offer the resources and guidance to help automotive retailers successfully digitalize their customer journeys, and provide greater customer service remotely. The latest development is our patent-pending concept Word of Car.
From word of mouth to Word of Car
Word of mouth – whether expert opinions, online reviews, brochures – is an influential source of information for car buyers. However, the information tends to be either subjective or obtained under controlled test conditions which likely don’t reflect the practical demands of the customer.
Wipro’s Word of Car redefines the traditional automotive brochure. Instead of conveying theoretical information about a particular model, data from real vehicles of that model, cars that are on road, are used to provide relevant analytics on how the prospective car performs in conditions similar to the buyer’s own life – from driving style and commute patterns, to regular maintenance and total cost of ownership.
Digital brochures, like those provided through Word of Car, help individuals identify their ideal vehicles based on their specific needs and preferences. It also provides a kind of virtual test drive because users get to see how cars have performed in real-world conditions, driven by real drivers that match their driving styles. This benefit is especially valuable now, considering the restrictions imposed due to the pandemic, but it has long-term potential as well. Virtual test drives pave the way for a more global automotive retail market, where anyone, anywhere can find and drive their perfect car before they even see it in person.
- Enhanced in-person and virtual buying experiences
- Virtual test drives – In-depth performance data from real users
- Analytics tailored to car buyers’ specific needs and common questions (commute patterns, cost of ownership)
- More personalized recommendations for other products and services based on customer preferences
Cars are personal. The car-buying experience should be personalized as well!