Understanding Customer Churn in Automotive Shopping Platforms

Author(s)	Divya Chockalingam
Country	United States
Abstract	The automotive industry has witnessed a significant transformation with the increasing prevalence of online automotive shopping platforms. These platforms, which provide a diverse range of services from vehicle comparison and purchasing to financing and aftersales support, have become a pivotal part of the car-buying process. However, as the sector continues to evolve, so does the challenge of customer churn. Churn, which refers to customers leaving or disengaging with a platform, is a critical issue that affects the growth and profitability of automotive shopping platforms. This paper investigates the causes of churn within these platforms, its consequences on business performance, and the role of predictive analytics and customer experience improvements in mitigating churn. Through an in-depth analysis, the paper explores various strategies, such as personalized customer experiences, data-driven marketing, and proactive customer support, that can help platforms reduce churn and foster long-term customer loyalty. The research highlights that addressing churn not only improves retention rates but also contributes to sustained growth in a competitive marketplace.
Field	Engineering
Published In	Volume 4, Issue 6, November-December 2022
Published On	2022-12-07
DOI	https://doi.org/10.36948/ijfmr.2022.v04i06.40688
Short DOI	https://doi.org/g9btgz

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International Journal For Multidisciplinary Research