What Automotive Retailers Can Learn from Amazon
What if I told you that Netflix didn’t kill Blockbuster and that Amazon didn’t kill big box stores? Considering that Toys-R-Us filed for bankruptcy this week and many blame Amazon, this statement may seem bold. But stay with me for a moment. I’m not arguing that the success of companies like Netflix and Amazon didn’t have an impact on the success of these other companies. Instead, I’m arguing that their company strategy — and unwillingness to embrace a changing industry — ultimately led to their death. This week I had the opportunity to share my thoughts on the state of online retailing in the automotive industry with dealers and vendors at Digital Dealer in Las Vegas. While many are hinting at the need for change, it’s time we take the next step and start taking action to ensure that the automotive industry doesn’t meet the same fate as these other epic failures.
When we look at the companies that have lost to the new tech giants, there’s one thing that becomes exceptionally clear. The problem isn’t the technology —failing to be customer-centric kills an industry or a company. Let’s take a moment and look at three industries and companies that are embracing change, adapting their strategies and adopting new technology with one goal in mind: to better serve their customers and ultimately, survive. Read more on Driving Sales