During my mandatory weekly Zoom meetings/trainings/seminars/sessions, recently heard some noticeable stats:
Online sales account for 14% of all retail sales.
I thought it would be much higher. Think of the potential for online sales with 86% of the market left to conquer.
If available, 20% of customers would buy a car exclusively online.
Digital retailing tools in the automotive industry are in their infancy. If 20% would buy a car sight unseen today, think of the potential once the tools grow and mature and are actually easy to use.
65% of sales at Domino’s are conducted online. 17% of Starbucks orders are done digitally.
In a noticeably short period of time, tens of millions of customers are comfortable using technology to get their basic needs met.
Rocket Mortgage is a top 30 mortgage lender in America.
Rocket does online mortgages. Mortgages are just as complicated as car sales, with paperwork and details galore. If people are comfortable closing their home sale online, what does that say about the future of online car sales?
Just goes to show you that the future is all digital, even for an industry such as automotive retailing, which has been noticeable for its sclerotic resistance to digital retailing tools. The old ways of retail are slipping into irrelevancy.