Emerging technology has drastically changed the automotive industry. For instance, the demand for e-commerce platforms for vehicles has shot up significantly, especially after the onset of the pandemic. Consumers are more inclined towards making car purchases online, rather than visiting a brick-and-mortar facility to do so – this is where automotive e-commerce comes into play.
What is automotive e-commerce?
It basically means selling and purchasing vehicles, along with related accessories, parts, services, etc. via online channels. E-commerce provides the opportunity to shop as per convenience, by comparing various car models or parts, and paying for them directly online. Launching your business through a website or virtual store and promoting it online, is a vital aspect of e-commerce in the automotive industry.
Modera’s innovative approach
Modera has partnered with Incadea Norge AS, which offers premium automotive software solutions for the global automotive retail industry, to create an e-commerce platform that specifically caters to this sector. They have participated in the Norway Grants “Green ICT” program which is carried out by Enterprise Estonia.
The partnership has set out to create a car sales platform that will fully digitize the process of buying and selling cars. Customers can make purchase decisions with just a few clicks, while commuting to work, or lounging around at home. The aim is to create a user-friendly interface for buying and selling, which can comprehend the needs of customers. Be it vehicle dealers, banks, insurance providers, or any other parties – all aspects are to be integrated within the platform, thereby digitizing the entire customer journey.
Here is what we have accomplished till date:
- Phase 1 of the project kicked off in August 2020, which involved the first prototype with stock browsing and filtering functionality, core mockups for front end, and designing the Salesfront plugin.
- Phase 2 included integration of payment gateway, checkout flow UI design and implementation, responsive design of platform, insurance integration pre-study, API specification, etc.
- Phase 3 involved more refinements of UI implementation, insurance integration, order status tracking, and client authentication flow with personal account.
- Phase 4 was about live integration to test drive calendar, modern purchase process design, insurance integrations plotting, and more.
- Phase 5 showed even more progress with insurance integration development of LHV, EGO, IF, finance integration development, and service calendar & service booking.
- Phase 6 was client authentication flow, digital signing of sales documents, and order tracking status.
- Phase 7 was the automation of processes to make tasks seamless.
Once the project is finalized, customers gain access to an automotive software solution for their mobility needs, which, on top of being convenient, is also created with the wellbeing of our environment in mind. Every participant in any customer touchpoint has the opportunity to automate the process via AI/APIs. Alternatively, they can handle the process digitally by using other applications.
What does our automotive e-commerce platform offer?
Personalized experience
When it comes to an e-commerce business model, it is possible to boost the customer experience by creating personalized e-commerce sites or independent storefronts. Using digital and targeted ads, organizations can point shoppers in the right direction to find the vehicle of their choice or the automotive parts they need. Customers can view cars, compare brands, check product data, look at product pages, and order parts and accessories.
Expanding customer base
E-commerce breaks down limiting geographic barriers and expands sales across several markets. Instead of a customer having to drive to their local dealership, they can do their car shopping on various websites across the region, or even the whole country. An e-commerce platform can be used to expand into new markets and segments. Consumers are becoming more comfortable with digital payments in new arenas, including their vehicle. Future smart fleets’ connectivity, data and intelligence can generate incremental revenue streams and enable transactional capabilities across all digital touchpoints.
Cost-cutting
In a classic dealership model, cars sit on the lot until purchased, taking up valuable real estate. But with an online purchasing model, organizations can expand their inventory to include vehicles not available on the lot but in the factory itself. This means dealerships can save a significant amount of money, while giving customers a broader slew of options when car shopping.
What can we do for you?
Remember, customers are not just purchasing vehicles in new ways, but using them differently as well. Many consumers prefer to forgo owning a vehicle altogether, opting to lease a car or use a ridesharing service. They care about sustainability, so offering efficient and environment-friendly access to vehicles is the need of the hour, which is exactly what to expect from Modera AS.
Modera is a 100% digital car sales platform that provides the chance to shop for vehicles online, without having to step foot in the dealership. As mentioned, customers want to enjoy the benefits of digital car shopping due to comfort and convenience. The automotive market is being digitized – though there is still a long way to go – most of the customer journey takes place online these days. Moreover, shifting towards e-commerce also ensures a positive impact on the environment, as it comes under “green practices”. No more commuting to the dealership means reduction in the size of carbon footprint.
This platform boasts a number of benefits:
- Understanding consumer requirements in detail and using the available data of vehicles on the market to ensure a perfect match.
- View inventory online – customers can check which makes and models are available at present.
- Sync information between multiple platforms with the aid of machine learning techniques.
- Encourage customers to ask questions and clarify doubts – it connects them with sales personnel via phone, chat, or email.
- Ensure smooth sales flow, which includes payments, trade-in, contract management, accessories and services, and delivery options.
About project
You can find all the project info here and project updates here
Contact us!
The solution we are developing is ready for piloting.
If you are interested in piloting and testing of the solution or have other questions, please feel free to contact us.
Igor Linap
Project Manager
igor.linap@modera.com
