Automotive businesses are swiftly realising that traditional retail models are no longer sufficient.
Technological convergence is rapidly accelerating change in the motor retail sector and is leading to a significant evolution in strategy.
Mark Frostick, senior associate in Rapleys’ Automotive & Roadside team, recently spoke to IMI Magazine (The Institute of Motor Industry) about how and why automotive businesses should alter their product offering to keep up with changing customer needs.
He states that “as the notion of the dealership and wider forecourt experience continues to evolve, diversification will play a central role and undoubtedly opens up a world of possibilities for additional income, new customers and less risk.
However, they must be planned for and implemented strategically, with a careful eye towards the long-term management of the business and its property assets.”
Click here to read the full article published in IMI Magazine and find out more about diversification in the automotive sector.
For more information, please contact Mark.