Commerce Connected

The Connected Ecosystem Driving The $230B Connected Car Opportunity

The car is becoming more than just a way for customers to get from Point A to Point B. More of today’s consumers are looking to the car as a smart guide to parking or safe driving, as a way to interact with social media and, most importantly, as a way to shop.

As online and mobile commerce becomes the norm for consumers in the U.S., as well as around the world, car manufacturers are increasingly working with retailers, and even quick-service restaurants (QSRs), to unlock new connected-car buying experiences. QSRs like Sonic Drive-In and Domino’s Pizza are enabling digital ordering through built-in dashboards, removing several steps from the ordering process.

Meanwhile, companies at all levels of the automobile industry are revamping their offerings to appeal to today’s mobile-savvy consumers. Automobile manufacturers like Tesla, Volvo and GM are rolling out new car models to offer an enhanced commerce-connected experience, allowing consumers to make purchases.

In the latest version of the Commerce Connected Playbook, PYMNTS examines the growing demand for connected-car use cases, and explores how that demand is set to influence the future of commerce, both online and in physical stores.

The $230 Billion Connected-Car Commuter Opportunity

As use of the connected car grows, these upgraded vehicles have the potential to serve 135 million commuters who spend an average of 51 minutes driving to and from work every day. The research shows that most commuters are interested in using their daily commute times to handle a host of tasks, such as taking phone calls, ordering groceries, paying bills and making other retail purchases — all from their cars’ connected dashboards.

In the Deep Dive of the Playbook, PYMNTS analyzes how retailers and original equipment manufacturers (OEMs) can unlock $230 billion in retail spend. For more details on this, and how commuters are seeking to upgrade their daily drives, download the Playbook.

About the Playbook

The PYMNTS Commerce Connected Playbook series, in partnership with First Data, is designed to give readers an overview of the latest developments, data and trends from around the connected commerce space. Each issue of the Playbook covers the major news and trends from connected commerce players, and includes a data-driven Deep Dive into various retail segments and industries.

——————————–

Latest Insights: 

Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. The July 2019 Pay Advances: The Gig Economy’s New Normal, a PYMNTS and Mastercard collaboration, examines pay advances – full or partial payments received before an ad hoc job is completed – including how gig workers currently use them and their potential for future adoption.

TRENDING RIGHT NOW

To Top