2020 is going to be another big and important year for the Auto industry if looking from the perspective of consumers. From various surveys and reports the many Auto experts I bring you the top 4 consumer trends for the Auto industry in 2020. So without wasting any more time let’s directly jump to the top 4 consumer trends, I identified for the Auto industry.
1.) Quality > Affordable
While going through the survey reports about what were the most important attributes for brands in the auto industry, I saw the majority of the respondents making Quality as the most popular option with 30% of votes. The second place was bagged by Affordability with having 21% votes.
As the word Quality is a combination of many internal factors and very much dependent on the individual perspective and the market perspective. It’s important for the Auto brands to dig this further up and find out what aspects of quality (security, reliability, aesthetics) are most important for the targeted consumers. For example, the survey respondents in Mexico were more likely than those in other countries that preferred “Personalization”. Meanwhile, respondents from countries like Japan cared more about “Innovative product or services” from Auto brands than those in any other countries. Automotive Brands should do their research to ensure that the product they are producing can meet the quality standards of that particular region and community they are targeting.
2.) Sustainability and Renewable
These past few years have shown an incredible increase in consumer awareness in regards to the environment and the issues related to it. Surveys and reports tell us that sustainability was not a particularly popular topic among respondents but people all across the globe suggested renewable energy and alternative fuel for Automotive industry as the biggest and most transformative technology of the coming years.
This analysis presents a great and interesting contradiction and shows how the consumers are divided between the facts that renewable energy will change the world for better in the coming years whereas few of the consumers are still prioritizing sustainability while selecting the Auto brand. This contradiction itself shows that the environmentally-friendly vehicles are still in the minority, the technology is still very expensive or not practically viable for consumers on a large scale.
3.)Friendlier Customer Service
Some expectations from the customer never change whether we talk about the year 2000 or the year 2020. The same has happened here also with the customers expecting friendlier after-sale service. Globally speaking, it is an important attribute that is looked into before buying any goods. 10% of the people choose this as an important attribute before choosing for any Auto Brand.
While reviewing the surveys reports and transcriptions of respondents, I came to the conclusion that all the negative conversations focused mainly on people’s experiences when the car goes wrong in terms of dealership, warranties, fixing things and things not working where the sole focus. All the top successful Auto companies have one thing in common, they know how to cash on the opportunity when presented to them by the customer. When people are shopping for vehicles or when something goes haywire with their vehicles, there’s an opportunity to garner favour with customers with warm interactions.
4.) Self- Driven Cars for 2020?
I was personally very interested in knowing, what consumers thought about the prospects of Self- driven cars as we head towards the year 2020. While many thought that self – driving cars are way- off, but 9% of consumers globally think that introduction of this technology will be the greatest transformation in the whole Automobile industry.
While going through the social media and other media I found out that Self- driving cars are the 3rd most hyped transformative technology there is to talk about. Even though this tech is yet to be proven in many countries like Spain and India but countries like the USA have responded well and positive to the early tests run by some Automotive companies. While many say this tech will kill the job prospective of cab drivers giving birth to the unnecessary unemployment, on the other hand, some say the introduction of this tech will decrease the road accident rate that’s climbing high at a rapid pace for the past decade. Even though this is a very innovative technology and will transform the whole Automotive sector, it still stands unclear whether this will be a boon or bane for the consumers globally.