You might be asking yourself, “What the heck is digital retailing?”
In its simplest form, digital retail experiences are a series of experiences that allow consumers to interact with your website during different stages of the buying journey. Experiences on one website lead to others on another and so on. Sounds simple, doesn’t it?
When viewed from the perspective of different industries and whether the consumer is an auto dealer or a consumer, Digital Retailing appears to be very simple (if it was explained to someone who isn’t familiar with eCommerce).
Digital retail experiences, when compared to traditional retail, include consumers searching for an item/service (over a period of time), adding the item to their cart, confirming the price, and finally completing the purchase.
When a consumer purchases a vehicle, digital retailing consists of placing the desired vehicle into the shopping cart, confirming a price, and then completing the purchase.
However, digital retailing might mean something different entirely different…
The process of digital retailing means assisting consumers with certain aspects of the deal-making process (such as filling out paperwork, scheduling a test drive, etc.) before performing the actual transaction in person.
Alternatively, it could mean simply purchasing your house or vehicle online and having them delivered.
You might wonder after looking at these definitions: which is the correct one?
It’s true that both of them are true,” states EVP of Product, Stephanie Ragozzino. The majority of our customers, however, are not ready to buy a vehicle online,” says PERQ. Dealership experiences are as important as online reviews in the current buying process.”.
Retailers’ business and financial goals are heavily individualized in digital retailing. It is important to understand that a few things will remain the same no matter what type of digital retailing you employ:
1. A digital shopping experience (or series of connected experiences) should provide consumers with an understanding of their shopping journey.
T2. Travel and destination are completely in the hands of the consumer. In addition, they are able to start and stop whenever they like and pick right up where they left off again when they like.
3. A digital retail store isn’t simply a tool, and it has nothing to do with a bunch of unconnected tools that don’t remember the steps a consumer has taken in their online shopping experience. We shouldn’t just target the end of the funnel: consumers in the “buy phase” of their car-buying journey.
4. Consumers are the only ones who are the focus of digital retailing.
The PERQ team encourages dealers to engage customers who aren’t directly in the purchasing phase, but rather, are in the discovery and research phases.
Due to the majority of consumers’ research taking place online, retailers and dealerships should provide consumers with facilities that make it easier to calculate their payments, receive trade-in offers, and narrow down their purchasing decisions. In every phase of the buying funnel, the car buyer should be assisted in the online shopping process.
