I read with great interest an article in
Automotive News
about the online shopping habits of Luxury shoppers. However, I do not believe these trends are restricted solely to luxury buyers.
Rather, consumers in every segment are looking for innovative ways to shop online. The previously accepted lead generation campaigns of Cars, Trader, KBB and Edmunds are dying on the vine because the model is not working for the dealers and consumers do not want to be hassled online. In fact, customers’ impressions of online follow up techniques are not dissimilar to their shopping experiences on the lot. Outside of test drives, most do not want to ever set foot on the lot until they take delivery of their new car.
Rather, consumers in every segment are looking for innovative ways to shop online. The previously accepted lead generation campaigns of Cars, Trader, KBB and Edmunds are dying on the vine because the model is not working for the dealers and consumers do not want to be hassled online. In fact, customers’ impressions of online follow up techniques are not dissimilar to their shopping experiences on the lot. Outside of test drives, most do not want to ever set foot on the lot until they take delivery of their new car.
Obviously, this is a difficult time for dealers and the growth of public information is only compounding their challenges. Dealers need to accept the new car market has become amazingly
and vehicles are now virtual commodities. When combined with the exponential growth of social networking, pre-sale reputation has become just as important as new car profits. Savvy dealers are taking advantage of this and making up for lost profit in volume and by shifting profit growth to F&I, Pre-Owned and Parts & Service.
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