Digital RetailingCommentary & Insights

Retail is NOT a physical location. RETAIL IS AN EXPERIENCE.  This statement may raise questions, prompt pushback, or lead to realizations. Retail across all industries began to shift long ago. We can credit or fault disruptors like Amazon for pushing the boundaries and expanding the concept of retail to include digital experiences. But even Amazon has blurred the line between physical and digital with pick-up/drop-off hot spots and a few retail store outlets. While I don't love the term "phygital," it conveys the idea that physical and digital are now blended and part of a single experience. Charles Dunstone, founder of Carphone Warehouse, stated that "the future of retail is the integration of internet and digital experiences and services with the retail network." This is an interesting perspective, but what does it mean for automotive retail? The industry was already experiencing a significant shift, which was further disrupted by the global pandemic. This disruption was compounded by a significant supply shortage that caused inventory issues. As a result, we are now facing fast-moving customer expectations and shifting business models in the industry. Despite the uncertain future, there are numerous paths to achieve greater value and opportunity. The questions become: what do we want to be, and how can we deliver it?  We must develop core capabilities to flex our muscles and future-proof our business. What could it look like? Sometimes it's easier to look outside of our own industry for examples and benchmarks to understand the actual experience and benefits without getting caught up in what can and can't be done in our own business. In the world of the Future of Retail, I would like to bring up Disney, perhaps surprisingly. Not the Disney store in your local mall, but the Disney Park in Orlando. If you've been there in the last 5-10 years, you've probably noticed the advancements in personalizing the entire experience. Here are a few highlights of what they provide (and the experiential capabilities): A personalized trip plan that's tailored to you and your family's needs and desires, created before you even depart for the trip Online and offline tools that work together to create a seamless experience The ability to meet the characters of your choice and highlight certain themes and areas of the park that are your favorites Suggestions on shows, pop-up meet-and-greets, and other immersive experiences to enhance the personalized engagement A connected bracelet is given or worn upon entry to the park to accommodate location-based services (tracking, payment, selected experiences) The ability to choose rides, preferred times of day, food selections, and other amenities in a planned and time-windowed preference Overall communication, alerts, and updates to facilitate the desired experience throughout the day. So, you say, that’s great, but what does that have to do with automotive retail or retail? I would suggest that this is exactly the future of the retail experience. Well, let’s break it down. It offers the basics of retail; goods and services available, shopping, buying, servicing, and experiences (that are very personalized). But it does it in a way that is so much more than transactional. This retail experience is: Personalized Needs-based Highly experiential Immersive Digital and Physical Supportive Memorable and ongoing (carries on after the original visit) Interactive …and extremely human-centric (despite all the bells and whistles, it is still focused on the people) Is there anything in the experience above that we think should not be possible or available in an auto retail experience? While the cost of Disney is getting extremely expensive, we still pay 10x-20x that amount for a vehicle transaction. Shouldn't acquiring a vehicle be as engaging, personalized, easy, delightful, memorable, and immersive as described by a customer? That's what we want in auto retail, yet we often fall short of these capabilities and benefits. While we may all agree that some or all of these elements would be desirable and beneficial, the challenge is in figuring out how to achieve them. So, what do we do? While recognizing the need for change and transformation is crucial, it's even more critical to determine how we can seize this opportunity and make it beneficial to our long-term success. How can we future-proof our business? I believe we need both a Mind Shift and a Business Shift. We cannot improve or achieve what we do not measure or set as objectives. The traditional measures of success in the automotive retail industry focus too heavily on transactional events. While sales, profits, and margins are important, the focus needs to be updated. To drive the necessary change and successful future business models in auto retail, we need a mindset shift. The following are some of the key areas where this shift is necessary: Experience-driven, not transaction driven Need Management over Lead Management Personalized, not mass marketed Customer-managed relationships (customer in control), not Customer Relationship Management (CRM) Human-centric, not Product-centric Omni-channel experiences, not one-channel events Human-centric, not product-centric Restructuring of Talent Management and compensation aimed at customers for life and experiences, not transactions. These may sound obvious, but without these as objectives, supported measurements, and infused into our business model and business processes, they do not happen. These must become our North Star view of success and capabilities. They also need measurement, training, focus, and ongoing innovation and support. Thus, next comes the business shift. We are witnessing numerous pilots and experiments in new retail storefronts and immersive design, as demonstrated by Porsche. We are also observing new sales and demand management models, such as regional warehousing and agency sales models. Additionally, we are seeing a greater influx of technology beyond traditional dealer management systems. As a dealer, it can be more effective to start with the customer and their current and future needs, rather than simply implementing massive business model shifts and new technologies. Customers desire mobility, personalized offerings that meet their journey needs, and an easy, trustworthy, and accessible process that fits their schedule and preferred channel. Therefore, to truly understand the customer, we must capture all relevant data and insights possible, to be agile and flexible in assessing and executing against their needs. Although dealers currently possess a lot of data, we lack a clear and visible view into one customer, one journey, with multiple needs. Furthermore, our current business model and capabilities do not make it easy for us to proactively respond and offer solutions to those customer needs. Unless the customer engages us, we typically do not discover and meet their needs until it is too late. Assuming that our goal and North Star is to enhance the customer experience beyond the basic transactional model of today, we need to align our data and insights, metrics and measures of success, people and training, processes and workflows, and tools and enablers to support that target operating model. Currently, a sequential, transactional, one-way experience is the norm, and trying to restructure outcomes from within that framework is ineffective. Instead, we must change the operating model and framework to align with the new definition of success. This is a simple concept, but not easy to execute. It requires clear goals, alignment, and an agile, ever-transforming process. Some of the key business shifts will include: More insightful use of data Processes and workflows focused on experience, not transactions New key metrics and objectives instilled and measured Talent Management and Reward structure in line with the objectives Building of agile capabilities aimed at customer experience and mobility access for customer A defined Target Operating Model to address the “to be” state …there is much more to continually do, but it does start with getting a clear vision of “your customer experience” and how you can deliver against that. Just start, and keep going. Never stop. Customers evolve. Their expectations grow. The industry of mobility is continuously transforming. We must continue to become “platforms of mobility access meeting customer needs wherever, and however, their personal journey requires it.” Steve Jobs said, “you’ve got to start with the customer experience and work backward for the technology.” I fully agree but would only add: “Start with defining your customer experience North Star, then build out the tools and processes to support it.” And never stop. The timing and delivery of your customer’s experience will be an ever-lasting, continuous journey, and one built as an enterprise capability (a muscle you can flex), not as a project, one-time program, or technology.

CEO of FIXED OPS DIGITAL The Start "I grew up in Southwest Minnesota. No one lives there because, well, it's way too cold."  Owen grew up in a small town, "just 14,000 people," he shares.  He went to college in his hometown. "My focus in college was actually financial planning; I thought I was going to be either a financial planner or a stockbroker, you know, something in the financial sector. "  Owen, however, also really enjoyed marketing.  Having a conversation with Owen Moon about the automotive industry is like getting into a fast car and just accelerating. A fast-talking, quick-thinking, honest CEO, Owen is very open about who he is, the challenges he has faced, and how he plans on launching over any obstacles that come his way.  "As I got out of college, and I started to look at opportunities, I realized that being in financial planning, you know, selling money, felt a little limiting." Owen Moon: I needed to let my creative side go, and I got lucky enough to end up with an advertising agency that was fully focused on automotive. Being a small-town kid who had never owned a new car, it was just great.   Owen's first brand-new car came shortly after starting his automotive career. It was a white Chevy Tahoe, "I loved that truck. I absolutely loved that truck," Owen smiled. "I was fortunate enough to be in the dealerships, sitting with the owners and general managers, working with high-level executives every day. I became a sponge and was absorbing everything around me, learning the industry from the inside out."   The Foundation “This is my 23rd year in the business, working with Dealerships.” Owen Moon: I was purely focused on helping my clients when I got introduced to my Business Partners. We had a discussion about how we could take some of the strategies that we've seen work on the sales side and move them to the service side of the business. FIXED OPS DIGITAL was born.  Owen Moon: Most of the service marketing that you'd see out there was email or direct mail campaigns, and a lot of it was retention-based marketing where dealerships target people in their DMS, their past customers. What wasn't being addressed was the online service customer. These customers are done with their warranty and are searching for great value and great service. We realized that there was an opportunity for us to move in that direction.  The Wins   "I had to learn how to be a CEO." Owen Moon:   I feel like I'm growing every day. When it started out, it was just four of us, and we all were kind of splitting up duties. Then, as we grew, we started to add personnel, and we began creating departments. My role has drastically changed in a lot of ways. "Today, I'm more focused on partnerships and working with the OEMs to help move us forward as a company."    “It wasn't always easy.”  Owen Moon:  Our industry experienced a lot of challenges during the recession. I had a full-service agency back then, and we were doing a lot of TV, Radio, and Print Ads. I had a major Group out in Hawaii and was traveling a lot, working with really big marketing budgets. I was meeting with all the publishers and media stations, and then that all came to an end. All of a sudden, I found myself working with smaller franchise and independent dealerships throughout South Dakota.   "I love the dealers out here. They are so great, real car guys but just a whole different game." Owen Moon: Being a CEO is a different challenge. People need to evolve, you need to take chances, and you need to avoid being comfortable. As you're growing in your career, you're gonna have to do a lot of different things. Not all of them will be what you want to do, but they are necessary, and they need to get done. I have a lot of conversations with different industry friends, and I'm still learning from everyone I meet. I like having conversations about our industry. I like speaking with high-level executives from other groups, OEMs, and vendors. What also keeps me grounded is that I have a lot of people on my team who are talented and have a lot of experience, but still come to me for advice. They want to do a good job. They want to represent our company well. I still feel like I operate on both sides of the business. I am paving the trail for myself within this role but also in the trenches with my team.  I am giving them advice, something I never had. I had to make mistakes on my own.  Trust me, I made a lot of mistakes, and there have also been those times when I thrived and made the right decisions. I learned from every one of those experiences, good and bad.   The Future As we progress into 2023, we're focused on continuing with our partnerships from an OEM level. We will continue to create integrated partnerships, looking at what we can do to help our dealerships with all of their fixed operations profit centers.  "We want to connect." This past year we were able to implement some interesting features and benefits with our software to help customers easily find services during inclement weather. We want to ensure that we are able to bring connectivity through other areas of our partners' business. We want to engage within the industry and vendor spaces.   Owen is gifted, but beyond that, he understands our industry. He has put the work in, gained real experience, and integrated fully into the dealer environment. We look forward to Owen’s 2023, his contributions and watching his story develop further.

In early 2020, no one could have imagined what the next two years would hold for the world- or the automobile industry. Through the shut downs of the early pandemic to vehicle shortages, a tightening economy and higher prices, to the in-dealership challenges of retention and growth, so much has taken place during this transitional time.  At DealerPeak , we acknowledge and have tracked these changes. Our research team used a first-touch attribution model to analyze data collected from hundreds of rooftops across the U.S. in Q1 2022. The data shows that there is a significant shift in how leads are generated in favor of third party digital retailers, along with an overall increase in online marketplace conversions. It is predicted that continued uncertainty will hover in the market for at least another year or more. With this understanding, DealerPeak expects dealer groups to become even more reliant on third-party organizations for inbound lead support. The Industry Continues to be Tested Q1 of 2022 has shown that issues like dealership inventory, manufacturing stagnancy and inflated prices are continuing to affect conversions and the way in which consumers shop for vehicles. One of the largest obstacles for both manufacturers and dealer groups is the semiconductor chip shortage, a situation that is forecasted to plague the industry through 2024. Lacking inventory plus an impending potential recession means that retailers must get creative and stay optimistic. Smaller brands with smaller market share are having an easier time keeping up with it all. Mazda and Maserati, for example, are able to achieve a much higher conversion rate compared to other manufacturers as they offer greater vehicle availability.  One Emerging Trend to Avoid Dealers are looking to cut costs. It’s inevitable during a challenging time, however DealerPeak has identified a major trend to avoid. In Q1 2022, website provider conversion rates dropped across the board. This is attributed to the fact there has been less incentive for dealer groups to maintain their websites based on the current market conditions, coupled with less need to generate dealership foot traffic. We believe maintaining a strong website is vital for long-term success. The best performing website providers offer buyer-focused features such as chatbots, digital engagement, and embedded digital retailing tools. What the Future Holds for Automotive Resilience and adaptability are common themes among dealer leadership in 2022. Seeking opportunities wherever they arise is now essential to annual planning, and that may mean expanding partnerships with third party groups. As mentioned, third-party leads dominate as a primary lead source because these platforms have a large variety of vehicle inventory to share with buyers. Organizations and groups that can evolve from “me” to “we” will go far in this new chapter of automotive innovation. There was also an increase in overall conversion rates for marketplaces like Autotrader compared to recent quarters. Online marketplaces allow consumers to shop and compare across all available inventory in the market - an asset in an economy where on-location dealership selection is low. This gives the buyer a sense of opportunity and control, keeping shopping frustrations to a minimum. Autotrader performs better than other marketplaces due to a large, high-converting database of vehicles. Thanks to high-ranking SEO and brand recognition, they attract abundant amounts of consumer traffic.  Support is Available Now DealerPeak is an exclusive auto dealer CRM specializing in centralized data for multi-franchise dealer groups that provides real-time insights. It's our duty to help dealerships and vendor partners succeed - and this is more important than ever in times of uncertainty. We hope you found the information to be helpful in your late-quarter 2022 and early 2023 planning. Please reach out with questions or to learn more about our CRM, Desking, Equity Awareness, or Open API programs. This article was contributed by Zach Ferres , Board Chairman of Dealerpeak, in partnership with Laurie Halter, Dealer Marketing Magazine Expert Panelist and Owner of Charisma! Communications.

Over the past two decades, retail has drastically changed with the rise in eCommerce. Compared to other sectors, the automotive industry has been slower to expand into online sales. Even slower has been the adoption of eCommerce strategies in the parts department. Traditionally, the parts department has relied on customers walking through the door and driving up to the service lane, or in some cases on local repair shops and collision centers ordering parts for their customers. In the past, consumers seeking out an OEM replacement part for their vehicle would have to physically come into the dealership, and parts were looked up in a physical or PC-based parts catalog. As an online presence became a vital component for businesses to flourish, dealerships created their own websites to better serve vehicle buyers and attract new ones, and later they even added new tools to allow customers to book service appointments online. However, the ability to browse parts and order online was rarely integrated into these sites. Even today, in 2022, the majority of dealerships do not provide an online option for consumers to browse or shop for parts, with only a quarter of new car dealerships selling parts online.  Instead, most parts departments continue to rely on old selling methods, including a parts form that online visitors can fill out to request information about a part. This form results in few conversions and is seen by consumers as inconvenient and impractical - even when they receive an actual response from the dealership.  Although only a fraction of dealers are selling online, it is becoming increasingly apparent that this is where the industry is heading, with more dealers adopting parts eCommerce strategies. COVID-19 Solidifies the Importance of Parts eCommerce If the shift in selling online wasn’t apparent before 2020, it quickly became a central strategy for many franchised new car dealerships as COVID-19 hit and the world began to shut down. In the U.S., businesses across the country closed their doors, and consumers went into lockdown. Even in states where stay-at-home orders were not adopted, and areas did not shut down, dealerships still saw a sharp decline in business.  In 2020, parts departments in the U.S.  lost $6 billion  in parts revenue, and new car sales  dropped by 15% .  Many dealerships found relief in their online parts business to combat this sharp decline in business. During the shutdown, many people use the time to repair their own vehicles or begin new projects. This led to a rise in the demand for car parts.  According to a 2020 eCommerce report from RevolutionParts, dealers selling parts online actually saw a  27% increase  in online parts sales, despite the economic challenges.  The pandemic accelerated the shift to online shopping by more and more people. As restrictions lifted and people began to return to normalcy, one habit that most people are holding onto is shopping online. In 2022, over 230 people in the U.S. made purchases online. In the automotive industry, the shift to online shopping has been drastic. Before 2020, only 32% of consumers felt open to purchasing a vehicle online, but this number has since  risen to 61% .  The impact of parts eCommerce doesn’t just impact parts being sold online, it also affects those being sold over the counter. According to Hedges & Company, regardless of whether a consumer purchases online or in-store,  74% of all parts purchases  begin with an online search. This means that people are not just shopping online for a part, but they are researching where they can get the best price, who has the part in stock, and how fast they can get it. If a dealership does not have a way for consumers to conduct this research, the probability of being passed over is high. New Opportunities for Franchised Automotive Dealers and Manufacturers The challenges dealers began facing in 2020 are far from over, as we are now dealing with the fallout of the pandemic and  worldwide supply chain issues  that have threatened the supply and production of new vehicles and auto parts. However, just as dealers were able to combat pandemic challenges in 2020, dealers who are selling parts online are now using these same strategies to mitigate the impact of the damaged supply chain. Creating an online parts business allows individual dealers to expand their customer base and reach parts buyers across the country and internationally. This means complete reliance on the local market has been eliminated, as new online revenue streams have been established, including selling parts through the dealership website, a separate parts web store, or through an online marketplace such as Amazon or eBay. Not only that, dealers can deal with obsolescence or aged inventory challenges by listing parts where they will be searchable by buyers who need them. Manufacturers have also understood the major opportunity eCommerce presents and often provide sponsored solutions to allow dealers to sell their OEM parts online through official parts eCommerce programs. Dealers and manufacturers know that they cannot compete with the aftermarket via traditional methods only. If they do not add their products to the online market, then consumers will no longer benefit from the opportunity to buy their higher quality products, and they will miss out on sales that go straight to aftermarket vendors and resellers. With the average vehicle age continuing to increase each year and the lack of availability of many new vehicle models, owners are looking to buy parts to maintain their vehicles longer and many even make upgrades to older vehicles Offering parts and accessories both online and over the counter gives dealers a multichannel strategy commonly used across industries to attract new customers and tap into this growing segment of second, third, or fourth owners of vehicles who would otherwise buy from the aftermarket.  The online parts market also grows larger every year, presenting new growth opportunities for franchised dealers and manufacturers. Most consumers today incorporate a hybrid form of online and offline shopping habits, meaning the method of selling products strictly over the counter is outdated and will prevent

For millions of people, shopping online has become the preferred method, especially over the past two years since the start of the pandemic. However, just because things have begun to look more normal doesn’t mean people are giving up their shopping habits. The rise in online purchases across all retail industries has caused many retailers to pivot their strategy to a fully optimized buying experience. This pivot has not escaped the automotive industry as new franchised dealers turn to eCommerce to drive additional revenue. However, recent data also shows that if dealers want to maximize online efforts, they need to keep the mobile experience in mind.   Don’t Ignore The Data A recent report from  RevolutionParts  that looked at the shopping behavior of over 100 million online parts shoppers showed that nearly 59% of consumers shopped for parts through a mobile device, marking a nearly 5% increase in mobile shoppers from 2020. Mobile users spent an average of $168 in parts orders and made up a little over $204k in total revenue for dealers signed up with RevolutionParts in 2021.  Not only were more shoppers searching for parts through mobile, but they were also purchasing more often, with 1.2k transactions made through mobile compared to 1.1k transactions made through desktop.  Although in 2020, we saw more shoppers searching for parts using mobile. However, 2021 marked the first year more consumers completed their purchases through mobile devices. What Does This Mean For the Parts Department? The dealership’s online parts business needs to be mobile-friendly. This rise in mobile purchases means dealerships will have to include mobile shopping in their online parts strategy and understand their customer’s mobile shopping experience.  Building an online parts business where the mobile experience is lacking will cost the parts department sales. Ignoring the data in the report mentioned above could lead to losing half of the department’s potential online sales. To ensure customers have the best online shopping experience when shopping from their mobile device, you need to make sure that the mobile version of the parts web store meets specific criteria. Otherwise, when a customer lands on the parts website, they may not know how to navigate the site to find what they are looking for, or they may have difficulty inputting their information and checking out. A poorly made mobile version can also confuse mobile shoppers, especially if it is visually unappealing, the text is difficult to read, or links don’t work. When building an online parts business, there are certain qualities you want from the mobile version of the website:  -       Easy to navigate  -       Quick load time -       Text is easy to read -       Visually appealing on a small screen -       Links are easily clickable -       Forms are easy to fill out Ensuring an online parts store is mobile-friendly is a must. A mobile-friendly parts site with these qualities is more likely to increase parts sales and deliver higher customer satisfaction.  Mobile shopping isn’t the future of shopping; it’s already here and growing. If the parts department wants to build a successful online parts business and capture more sales, the data shows that implementing a mobile-friendly shopping experience is a must. Get the Full 2022 eCommerce Shopper Behavior Report The RevolutionParts  2022 eCommerce Shopper Behavior Report  gives parts sellers insight into the behavior online auto parts customers, devices they shop from, how much they are spending, and demographics. To view the full report, visit: https://www.revolutionparts.com/  

In the post-pandemic world, the, in some ways forced, adoption of digital has had resounding effects on the purchasing process. The pandemic created an increased sense of digital comfort amongst consumers. As consumers began to rely on digital platforms for everything from shopping for groceries, to meeting with friends, to job interviews, one of the more profound developments has been the upward surge in consumer driven research capabilities.  With access to information through digital applications more prevalent than before, the new, digitally comfortable customer, can educate themselves prior to making any form of direct engagement. This greatly impacts the playing field and changes some of the traditional metrics previously held as decisive factors when it comes to digital marketing. In preparation for his upcoming presentation at CXAUTO2022 , we met with Lewis Scott, the Director of Marketing: Digital and Field Performance, at Byrider. Along with sharing his story, Lewis gave his expert opinion on the current state of the industry, as well as what him and the team at Byrider are doing to solidify their presence (and the future of automotive) through vertical integration, redefining the customer and the full customer journey.  Growing up in Southeast Michigan, Lewis was destined to build a career in automotive. Having interned at Chrysler’s parts division, MOPAR, Lewis moved on to join Chrysler Financial once he had graduated from St Joseph’s College with a bachelor’s degree in Business Administration and Management. In 2012, Lewis and his family relocated to Indiana and, with the Byrider Headquarters situated in Carmel, it seemed like the perfect place to settle down and establish a root structure. Byrider’s in-house proprietary approval platform and in-house financing, has supported the establishment of 32 company stores and 114 franchise rooftops. Lewis has spent the last decade with the Company, moving up the ranks from an underwriter to where he is now, directing marketing for digital and field operations.  Prior to being promoted to Director, Lewis worked on the Franchising side as a Franchise Consultant, which, along with the exposure gained throughout his tenure in the industry, uniquely positioned him to understand the complex nature of consumer behavior within the automotive industry.  The Metamorphosis of the Customer The customer is educated: they want their answer online, virtually, remotely, digitally. Before they decide if they want to give you their business and buy a car from you, they want to understand if they can get approved. In the old days, circa pre-2016, customers would call your store, look at newspapers, look at automotive ads, come up on the lot, “kicking tires” so to speak, and right now, customers are comfortable with and require an experience that is digital and remote.  Our ability to build relationships and engage in experiences online has become the expectation. Customers want an experience, they want to know what you have, what you stand for; they want to know about the business. Customers now want to understand the journey upfront, what is the approval process like and before deciding on whether or not to commit, they want to understand both the pre- and post-sale experience.  Digitalists versus Traditionalists When we consider the sales methodology, I am a product of both.  My background is firmly established in the traditionalist model of sales however, it is my role to ensure that my team understands the importance of incorporating a digitalist perspective. At Byrider, this means equipping ourselves to recognize the potential embedded in a consumer through digital engagement.  A hybrid model means that, whilst we acknowledge that the traditionalist process still takes place, just later on down the line, digital is here, now. That is what we are seeing, a mixture of both approaches but a transition or shift in terms of the sequence of the engagement and process.  Although it will likely be two to five years before we see the full spectrum of digital adoption across the board, the facts remain, 85% of our engagement comes from digital, mobile specifically.  My role is really about the sales funnel, above the attributed lead or captured lead. Leads are no longer what is in our CRM, those consumers landing on the website, looking for information - by definition, that is a lead. How do we get that customer more engaged in a sales funnel? The answer comes down to overall brand engagement. We are able to engage customers through sharing knowledge of who we are and what we do.  Byrider has 32 company stores and 46 individual franchises that account for over 114 rooftops. We come from many cloths including traditional dealerships, some have been key employees from traditional or captive finance, some come from entrepreneurial backgrounds and there is success in this combination. However digital is forcing traditional to realize you can no longer come at this from a purely traditional route. Consumers want to know if they are pre-approved, can they get approved, whether they qualify for the vehicle, all before they come see you. That is a digital mindset and a digital scope. From the perspective of managing the anxiety that comes with a hybrid approach, training and development can ease the transition. Historically, we were able to deal with objections while a customer physically sat in our cubicle, we now find that we need to handle these objections from afar through telecommunication and digital channels. On the upside, those customers who are calling, are doing so because they have seen our vehicle online. Those submitting information to you, are showing deeper engagement from a consumer intent to purchase. In terms of managing the gap, Byrider has embraced web chat and by doing so, we work towards meeting the digital needs of our customers.  What we are focused on, is determining which communications with customers can be automated, what can we do to support the activities of our customers in order to make them comfortable to self-serve.  The ability to buy and get approval, the ability to finance, incorporating the reality of bad credit, new credit, no credit and facilitating real life scenarios such as job gaps, multiple jobs, non-traditional employment; these are all the things we can take into consideration. Through our in-house financing, we are the dealer, the underwriters, the service shop. All entities of our vertical integration are managed with the customer ownership experience in mind, and this is what makes Byrider different.  Our operations are uniquely set up to truly be there every step of the way and keep our customers on the road. Through these three pillars of vertical integration, sales, underwriting and service, we can support the customer at the most critical steps of their journey.  From start to end, Credit For Being You is an agile approach to an inclusive offering. The beauty of vertical integration is the agility that we can employ, we are able to consider the ability and willingness to pay which is not possible through a traditional model. We are able to consider our customers through a lens which is not afforded to them when it comes to an automated credit platform.  As Lewis and I neared the end of our conversation, we reflected on the sense of honor that came with working in a Company whose principle business operations meant that he could proactively play a role in people lives, knowing that the Team at Byrider are the reason that some families can get to work in the mornings. Themes of accessibility and the ability to approach the customer from an individualistic perspective, whilst driving business forward, is what happens when you apply agile thinking to a community driven industry.  We also got some crib notes on the “top secret ideas” that Lewis will be sharing at CXAUTO2022 . We highly recommend seeing him in person.  See more about Lewis here