Shifting Gears: The role of the retailer is changing
Today's consumers are increasingly tech-savvy and well-informed. They research extensively online, comparing prices, features, and reviews before arriving at the forecourt ready to buy. Retailers adapting their strategy to meet this rapid change are seeing their role as a salesperson change. With success now reliant on ensuring customers have the right support at their fingertips to self-inform and complete as much of their purchase journey online before coming to the forecourt to close.
This ‘digital first’ mindset among car buyers is explored in our latest insight report, which revealed that the first quarter of this year saw circa 238 million cross platform visits to Auto Trader: a 17% increase on 2022.
How are retailers facilitating the ‘digital first’ needs of their customers?
Booking a test drive
Searching available stock across all sites
Generating finance quotes
Completing a finance application
Video chats/walk arounds
Critically, these retailers are seeing significant consumer engagement with these services, especially for those that support earlier-stage jobs. And those that are further along in their digital journey and offering more digital services are seeing even greater benefits.
How is shifting focus toward digital services benefitting the retailer?
By establishing a strong online presence, integrating digital and physical channels, and facilitating a seamless omnichannel experience retailers are reporting:
Customers coming to their forecourt from further away with a stronger intent to buy
Time saved on administrative tasks
Operational efficiencies resulting in more sales per salesperson
Improved customer service via a seamless and connected buying experience
According to the survey findings, the level of success experienced by retailers in providing an omnichannel buying journey is directly proportional to the number of digital services they have incorporated. Retailers with over half of their services offered digitally believed that they saved time on administrative duties (102%), improved their customer service (56%), were spending time with customers more efficiently (54%) and were attracting customer from further away (28%).
How can you start seeing the benefits of digital retailing in your business?
Whether your business is just beginning this shift or is well on its way to delivering a seamless omnichannel buying experience, our new insight report will equip you with useful information and tools to help accelerate your progress.