Introduction
The days are numbered for old-fashioned car dealerships. My thesis is that the omni-channel strategy is working extremely well for CarMax (KMX). This is expected given the consistent no-haggle pricing model at CarMax and the transparent financing model.
The 2019 10-K explains the omni-channel experience:
As we roll out our new omni-channel experience, our customers will be empowered to buy a car on their own terms, either completely from home, in-store, or through an integrated combination of online and in-store experiences.
In the 2Q20 earnings call from late September, CEO Bill Nash