The automotive industry is undergoing a dramatic transformation. Even longtime automotive executives like Bob Lutz think dealerships are ultimately doomed. And auto retail isn’t alone. Retail as a whole is in the midst of a crisis, with brands like Toys ‘R’ Us, American Apparel, and Claire’s declaring bankruptcy, and others like Sam’s Club, Macy’s, CVS, and J.C. Penney shuttering thousands of stores across the nation.
How did your dealership do over Thanksgiving weekend? Last week, we predicted that online car orders were likely to double on Black Friday and Cyber Monday. This week, we ran the numbers. What we learned may astonish you.
Retail giants like Walmart, Best Buy, and Target aren’t the only places that get crazy on Black Friday. Customers are busting down the figurative doors of ecommerce, as well. Last Black Friday weekend, an estimated that 108.5 million Americans shopped online, well above the 99.1 million who shopped in stores.