Digital Experiences Will Drive Brand Resonance For Rental Newcomers

New ride-booking and car sharing services like Getaround, Lyft, Uber, and Zipcar — some of which exploit the rising sharing economy — threaten to change car ownership eventually but will have an immediate impact on the car rental business. To survive the transition, US car rental providers must reinforce their brands by creating digital product and service experiences that meet customers' transportation needs on demand, whether they choose to evolve the business model or not. Forrester's research proves that being trusted, remarkable, unmistakable, and essential (TRUE) drives brand resonance by securing consumers' brand preference, referral, and pricing power. This report shows CMOs Forrester's TRUE brand compass results for 10 car rental and sharing brands and analyzes which dimensions of a TRUE brand are important drivers of a resonant car rental or car sharing brand.