It seems like NADA was a year ago. It was only 3 months ago, but it was definitely a different time. The common prediction in many presentations and in floor conversations around the trend towards digital retailing has not only proven true, it appears to be accelerating at a rate no one would have predicted then – before Covid19.
In his recap of the 2020 NADA show, Stefan Drechsel highlighted the benefits of moving AWAY from the traditional 1-Stop-Shop DMS model and moving towards the Best-of-Breed model that offers the benefit of feature-rich solutions reflecting industry best-practices, and ultimately, stronger ROI to the dealer.
The accelerated shift to digital retailing will no doubt also prove to be a fertile landscape for application providers whose innovative offerings better answer the changing requirements of the new buying experience. For dealers to remain relevant, they’ll need to adopt these offerings. That will be challenging if locked into the One-Stop-Shop model.