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Understanding the market landscape of electric vehicles, intenders’ perception, barriers to adoption & marketing opportunities.

"The only constant in life is change!" When it comes to the automotive industry, one of the most significant changes that we have seen in recent years is the introduction of EVs. We are in the midst of an automotive revolution since Tesla revolutionized the industry with its first mass-produced highway-legal electric vehicle (EV) powered by a lithium-ion battery. As a result, automakers of all sizes have been rushing to launch their electric vehicles in order to provide consumers with an alternative to dealing with environmental concerns, rising fuel prices, and shifting consumer preferences. 

Considering the alarming stage of environmental hazards and soaring fuel prices, EV sales are steadily infiltrating the transportation industry. Are these concerns, however, enough to bring in a complete EV adoption worldwide? 

Even though the EV adoption rate is on a rise, they still constitute a small proportion of all vehicles on the road. But that could change very soon. Many industry observers believe that marketers have already passed the tipping point where EV sales will quickly outnumber those of gasoline and diesel vehicles. With technological capabilities improving and societal demand for sustainable solutions, the EV's time has come. However, it begs the question of whether challenges faced due to various infrastructural issues, high cost and limited options can impact the pace of global EV adoption.

Borderless Access examined the current EV landscape, barriers to adoption, brands to watch, and opportunities to market to potential EV buyers in the US, UK, Germany, France, India, Malaysia, Vietnam, Indonesia, UAE, Saudi Arabia, South Africa, Nigeria, and Brazil markets. 

Remember the ‘Foodarackacycle’ machine from an episode of the 1962 animated series ‘The Jetsons’ that produced any food item at a click of a button? Back then, the home technology featured in the series was considered absurd. Around five decades later, even though we are yet to see floating buildings or flying cars, smart home technology has arrived and is thriving.

Emerging trends, rising desire for convenient lifestyles, tech-savvy consumers, as well as increased acceptance of cloud-based technologies have made the smart home market appear promising. On the flip side, there exist factors that might slow down the otherwise accelerated adoption rate for smart home devices.

Liquor stores nationally are witnessing enormous queues and hefty sales as lockdown level 3 marks a lifting of the ban on alcohol sales. However, the market is expected to witness a shift in the consumers’ alcohol-buying behaviour as they settle into level 3. Borderless Access therefore, conducted a study to understand this change in behaviour and how it might impact the alcohol industry.

One of the fastest growing digital payments markets in Africa, Ghana, gives the digital revolution a new meaning. The unprecedented growth of the digital economy in Ghana in recent years, especially its penetration in rural areas, speaks of the opportunities it offers in terms of social inclusion and accessibility. This is furthermore important now, where the world has adopted ‘safe distancing and digital lifestyle’ as the new normal.

With the lock down extension, there is a natural need for South Africans to feel secure about ongoing essential goods and services. BMi Research conducted a survey using an online panel from Borderless Access* to ascertain current perceptions on essential goods. 509 people were interviewed nationally from 12-13 April 2020.

The COVID-19 pandemic and the ensuing lock-down has had a deep influence on people’s lives universally. However, constantly, hearing and reading about the problems and hardships makes coping with the situation more difficult. At the same time, the compulsions of lock-down have forced us all to make certain changes to how we live and these have had some unintended, yet welcome impact as well. And pleasant news is always welcome, right?

In times of crisis, there are two paths to take: Reactive or Proactive. It is entirely understandable (and much more common) for businesses and individuals to take the reactive path.