International Car Rental Show Tackles Newer Ways Of Doing Business
April 25, 2019
Car rentals exposed to options from P2P to subscription incentives
The International Car Rental Show held earlier in April in Las Vegas usually gives industry participants a great deal of insight on how to improve their operations and network with fellow players. But a vibe of uncertainly permeated the convention atmosphere, especially with increasing competition from the ride-sharing sector as well as figuring out future auto technology involving connectivity.
In the case of the former, it’s getting more and more obvious that doing business the same way as the past few decades is about as passe as the Model T. In-person bookings are becoming a thing of the past thanks to apps, with patrons showing up at a rental office to pick up their set of wheels. Those pop-ins will also dissipate over time as car rentals grapple with new ways for technology to ease the pick-up part of the transaction.
App technology certainly would bypass the inconvenience of heading to a car rental office and waiting in line to book, pick up, or do both. And that same innovation would also increase company efficiency in terms of time dedicated to a transaction. But despite that app convenience, mostly already available, that doesn’t entirely explain why ride-sharing firms are still basking in the honeymoon spotlight as mobility flavors of the week.
And while the mention of the likes of Lyft or Uber might have been enough to sour the occasion at the convention, all indications are that there was still much to be optimistic about. For instance, as reported by Auto Rental News, more established car rentals have the experience to eye opportunities when they appear. In other words, indicated one article, “the method in which operators put renters into cars is becoming more fluid and varied.”
Which is why at least one seminar was dedicated entirely to alternative car rental options like the peer-to-peer and ride hailing ways of doing. And with those options come a different checklist of risks, especially when it comes to insurance. While the seminar provided a guide to get access to a market preferring the peer-to-peer option, no doubt some attendees were still wrapping their heads around the concept.
A subscription service was another alternative tossed about at the event, which has the ability to latch onto long-term customers during this period of uncertainty. It’s an option well suited for car rentals, which already has experience working with various consumer incentives and how to package them.
Despite some trepidation among some attendees, the convention’s message seemed to reassure the rest that the car rental industry will continue as long as players bravely take on the changes that lie ahead.
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