In-vehicle commerce has turned into a reality. Yes, you hear us right. You soon have the chance to trust your Tesla to order your cup of coffee for pick-up. Let’s learn more about in-vehicle commerce and how automobile makers switch gears to it.
Definition of in-vehicle commerce
As its name suggests, there are two factors in it – commerce and the vehicle itself. A car needs connecting to become commerce-ready. Simply put, this is a vehicle with an internet connection. Only some vehicles on the market were that capable a couple of years ago. But what to take pride in is that an increasing number of cars are becoming connected.
In-vehicle commerce enabled by connected vehicles is possible through smartphone mirroring. Here, the phone of the driver is in connection with the vehicle’s dashboard display. Because it is necessary that drivers focus on the road to keep themselves and others safe, this way is not promising, so they need a longer-term solution.
How automobile makers switch gears to in-vehicle commerce
Jaguar Land Rover initiated in-car payments in 2017
In-car payments through touchscreens in 2017 became feasible thanks to Jaguar Land Rover. But they were all about fuel payments. When introduced, the system worked with the Apple Pay wallet and PayPal. So, drivers could charge the fuel and did not have to get out of their vehicle at the same time.
The connected vehicle commerce functionality has become more of a standard
The original equipment manufacturer is making a strong effort to improve the functionalities of in-vehicle commerce. This comes with perks. The connected vehicles are accounting for a bigger share of the whole market, so the functionality of connected vehicle commerce has become what people would expect in new vehicles. The norm related to connections is a good example. More than 90% of new passenger vehicle sales in America in 2020 had connectivity.
There are advantages to in-vehicle commerce as a result of the advancement of voice commerce technology
Voice assistants are crucial to getting the most out of connected vehicle commerce. As you may notice, voice commerce is growing fast. The e-Commerce transaction value through voice assistants is forecasted to reach over 19 billion dollars globally by 2023. Plus, according to rough estimation, about 40% of the American population relied on voice assistant technology each month in 2020. With the enhancement of voice commerce, connected vehicle commerce will simply gain perks from it. For example, they see an improvement in technology.
In conclusion, while it needs plenty of development before it works to increase plenty of revenue for anybody else aside from vehicle manufacturers, gas stations, and payment platforms, the potential of in-vehicle commerce is evident. Additionally, we are all aware of the rapid growth of eCommerce. In such a context, you should be the most informed and wisest in the preparation. Before hitting the road, make sure you reach out to us to look into how we can help thrive your business to the point you cannot believe you can.