Cox Automotive Launches Retail360: Revolutionizing Car Buying
Cox Automotive Unveils Retail360
Cox Automotive, a leader in automotive services and technology, has introduced Retail360, an innovative platform that aims to create a seamless car buying and ownership experience. This new suite is designed to unify dealer websites, third-party marketplaces, and showroom experiences into one comprehensive journey for car buyers.
Transforming the Car Buying Journey
With Retail360, dealers can utilize AI-powered insights to personalize interactions, ensuring rapid and engaging customer experiences. The platform synchronizes all aspects of the buyer's journey, from the initial audience engagement to the final purchase and service interactions.
Key Benefits of Retail360
The introduction of Retail360 promises to enhance deal consistency across various stages of the purchasing process. Whether online or in-person, the integration of these services allows for modernized customer service, making appointments and payments seamless for both consumers and dealers.
The Need for an Omnichannel Approach
Research from Cox Automotive shows that a significant percentage of consumers expect an online buying experience to be continued in the dealership. Meeting these expectations can greatly increase customer loyalty, with statistics indicating that 90% of satisfied customers are likely to return for future purchases and service visits.
About Retail360's Innovative Features
The suite includes several powerful tools for both consumers and dealerships. One significant feature is Deal Central, which centralizes deal processes for sales teams. This allows for a smoother workflow, enabling staff to view and finalize deals while minimizing the need for repetitive data entry.
Boosting Closing Rates
Deal Central has already shown promising results, with early adopters reporting a notable increase in lead closing rates. By streamlining the introduction of financing products, dealerships can enhance profits. This intelligent automation taps into firsthand consumer insights to provide a better and faster experience.
Driving Digital Innovation
Cox Automotive has a longstanding history of driving innovation within the automotive industry, having begun its journey with Autotrader back in 1997. With Retail360, that legacy continues as it embraces an omnichannel approach that caters to today’s diverse clientele.
Future Prospects of Retail360
The platform is positioned to evolve continually, incorporating new data science advancements and insights from the dealership’s interactions with car buyers. This adaptability is crucial for maintaining relevance in a rapidly transforming automotive landscape, ensuring that customers receive the best possible experience.
Conclusion
Cox Automotive's Retail360 is poised to redefine the automotive retail landscape. By uniting the dealership experience with consumer-driven technology, it represents a significant leap forward in how cars are bought and owned in today's market. The introduction of these innovative tools indicates a commitment to enhancing the overall experience for both dealers and consumers alike.
Frequently Asked Questions
What is Retail360?
Retail360 is an omnichannel car buying and ownership solution offered by Cox Automotive, integrating online and in-store experiences.
How does Retail360 improve the car buying process?
The platform offers AI-powered insights, streamlining customer interactions across all stages of the buying journey and creating a more consistent experience.
What features are included in Retail360?
Key features include Deal Central, which centralizes deals for dealers, and various tools that enhance personalization and speed up the buying process.
Why is an omnichannel approach important?
An omnichannel approach allows customers to choose their purchasing path, whether online or in-person, ensuring a seamless transition between both environments.
What are the expected outcomes from using Retail360?
Dealers can expect improved lead closing rates, increased customer satisfaction, and enhanced profitability through the streamlined processes and data insights that Retail360 provides.
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