Frost Radar™: Vehicle Retail Visualization Solutions in Europe, 2023
A Benchmarking System to Spark Companies to Action - Innovation that Fuels New Deal Flow and Growth Pipelines
05-Dec-2023
Europe
Frost Radar
MH2F-01-00-00-00
AU_2023_367
$4,950.00
Special Price $3,712.50 save 25 %
Original equipment manufacturers (OEMs) and dealers are exploring different approaches to reach out directly to customers to reduce the overall retail operating costs These approaches should be effective enough to market and sell their inventory in the competitive retail arena. Automotive eCommerce transformed during the COVID-19 pandemic. Many OEMs and dealerships relied on online sales channels to sell their inventories. In that context, visual digitalization played a crucial role in providing detailed product information, enhanced customer experience, and, most importantly, addressed the need to reduce physical interaction. Post- pandemic, online/digitalization retail still grows at a fast pace as tech-savvy millennials and Gen Zers become the largest car- buying groups—expecting a seamless and digital purchase journey.
Visual digitalization also results in a reduction in inventory management costs with limited real-estate and human resources requirements. These reductions in retail cost per vehicle sales are directly transferred to customers without compromising on OEMs’ or dealers’ profit. As virtual vehicle tours provide detailed visualization of vehicles and features, they also provide the retailer with an opportunity to upsell without allocating additional human resources to explain to the customers.
Frost & Sullivan analyzes numerous companies in an industry. Those selected for further analysis based on their leadership or other distinctions are benchmarked across 10 Growth and Innovation criteria to reveal their position on the Frost Radar™. The publication presents competitive profiles of each company on the Frost Radar™ considering their strengths and the opportunities that best fit those strengths.
Vehicle Retail Visualization Solutions in Europe 2023
- Vehicle Retail Visualization Solutions in Europe
Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform
Growth Index
Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.
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Market Share (previous 3 years)
This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years. -
Revenue Growth (previous 3 years)
This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™. -
Growth Pipeline
This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities. -
Vision and Strategy
This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision? -
Sales and Marketing
This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.
Innovation Index
Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.
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INNOVATION SCALABILITY
This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals. -
RESEARCH AND DEVELOPMENT
This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline. -
PRODUCT PORTFOLIO
This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue. -
MEGATRENDS LEVERAGE
This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline. -
CUSTOMER ALIGNMENT
This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.
Significance of Being on the Frost Radar™
Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.
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GROWTH POTENTIAL
Your organization has significant future growth potential, which makes it a Company to Action. -
BEST PRACTICES
Your organization is well positioned to shape Growth Pipeline™ best practices in your industry. -
COMPETITIVE INTENSITY
Your organization is one of the key drivers of competitive intensity in the growth environment. -
CUSTOMER VALUE
Your organization has demonstrated the ability to significantly enhance its customer value proposition. -
PARTNER POTENTIAL
Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.
Speak directly with our analytics experts for tailored recommendations.
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| Deliverable Type | Frost Radar |
|---|---|
| Author | Jagadeesh Chandran |
| Industries | Automotive |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | Automotive Retail Technology |
| Keyword 2 | Vehicle Retail Visualization Solutions Analysis |
| Keyword 3 | Vehicle Retail Technology |
| Podcast | No |
| WIP Number | MH2F-01-00-00-00 |