The times are changing, even in the business world. The advances in technology have brought about sweeping changes in the business.
Take the automotive industry. Years ago it was unheard of to buy a vehicle over a computer, right? Well, in 2023, that is incredibly different.
Welcome to the world of the eCommerce automotive industry. Today, it is becoming increasingly popular to buy a car or truck over the Internet.
So much so that specialized companies are exploding in growth. What will 2023 look like for this amazing emerging business sector? That is precisely what we will discuss.
What Is Automotive eCommerce?
It is NOT the same thing as digital automotive retailing. With digital retailing, you can have an online presence with your chosen dealership.
You might see a virtual showroom and even schedule a test drive. As is the case with any other type of eCommerce, you are shopping online for what you want.
In this case, the thing you want is a car, an SUV, a truck, etc. With automotive eCommerce, everything is done online.
You select a vehicle, arrange the financing, complete the sales process, and arrange to either pick it up or have it delivered to your doorstep.
No in-person presence is necessary unless you opt to pick up your vehicle.
The eCommerce Automotive Industry in 2023
Perhaps the most well-known example of the eCommerce automotive industry in 2023 is the company called Carvana. The odds are great you have seen commercials for them.
What may have been thought to be a passing fad has turned into mega-giant status for Carvana. In 2023, they are the undisputed leader in this particular market.
Now that this concept has caught on and people are flocking to buy autos from them, you can expect more automotive eCommerce businesses to spring up here in 2023.
Plus, some dealerships that are traditionally in-person set-ups are now offering an eCommerce option to do business with them. This is also catching on quickly.
Why Is the eCommerce Automotive Industry Expected to Grow In 2023?
In the not-so-distant past, the popularity of this concept flourished when the COVID-19 pandemic was at its height and people could not leave their homes.
In 2023, although the pandemic is largely over, people have taken notice of the convenience of buying a vehicle completely online.
Do not be surprised if competing businesses emerge and also skyrocket in popularity.
An offshoot of this is what we touched upon earlier. Many automotive dealerships that have traditionally operated as in-person entities are now offering customers the option of doing business totally online.
This is catching on as well. Look for more of this as 2023 moves forward. The public has effectively fallen in love with automobile purchasing online.
Will Electric Vehicles Play a Role in the Automotive E-commerce Trade in 2023?
Along with the public’s growing awareness of eco-friendly automobiles, in 2023, we are seeing more people move towards electric vehicles. The IRS is even employing new tax credit rules for electric vehicles beginning in March 2023.
So, will electric vehicles become part of the mix in 2023 and beyond? The answer to that question remains to be seen.
With the United States being a trendsetter when it comes to the eCommerce automotive industry, and the projections of the USA to start building its own electric vehicles, do not be surprised if these become available for online purchases and also delivery in 2023.
What Does the 2023 Market Look Like for Automotive E-commerce Business?
Industry experts who study automotive trends say that, in 2023 and the next few years, the size of the global automotive eCommerce market will grow by about 17.5%.
By the year 2030, approximately $165 billion will be spent on the eCommerce industry.
If you think about this, it makes perfect sense. People have long since been purchasing their clothing, personal care products, and other merchandise online.
So then, why not motor vehicles too? Look for this trend to grow quickly as we advance forward into the year 2023.
What Should the Automotive Industry Do To Keep Up With This Growing Demand?
Now would be the time for individual automobile manufacturers and their executive teams to forge a lasting partnership, and my example is this automotive eCommerce marketing agency that helped me made a good presence online.
Professionals in this field will know precisely what steps to take to bring them up to speed in the world of the eCommerce automotive industry.
When you hire an automotive eCommerce marketing agency, you will work with them to develop online buying capabilities for YOUR business.
They will keep you in the loop about pertinent technologies and ensure you stay at the forefront of the eCommerce automotive industry.