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advanced tools fueled by data from their DMS, CRM and
available inventory to quickly map buyers to the vehicles
they're most likely to buy.
Another well-documented shift in consumer preferences is
the growing interest in SUVs and trucks. Similarly, this trend
was expedited in 2020, accounting for nearly every other
vehicle registration through July. This is even more distinct
among luxury buyers, with SUVs accounting for 64% of new
vehicle registrations, according to IHS Markit.
Engaging these buyers early on before they've had the
chance to shop around and begin their buyer journey is key.
By utilizing behavior prediction technology, dealers can
identify and engage potential buyers with a personalized
customer experience from the very first touchpoint.
New Buying Experiences Become "New Normal" for Dealers
Like buyer preferences for SUVs and trucks, digital retail saw a massive increase in 2020. Online
car shopping went from a "nice to have" website functionality to a necessity for dealers in just a few
months, expedited by online-only car dealerships and an increasing network of franchise
dealerships now offering online purchase options.
To find success in 2021, dealerships need to deliver the buying experience consumers want. A
survey of recent buyers by IHS Markit found ease of convenience is the primary choice for
customers selecting their purchase method – regardless if they purchased online or in-store. This
illustrates the importance of dealers not only offering broader online purchasing options, but also
the critical value in connecting a dealer's online and dealership buying experiences.
Whether it's online or in-person, new or used, SUVs or sedans, by leveraging data-driven tools and
technology, dealers are empowered to create the streamlined processes, perfected messaging
and personalized customer experiences they'll need to gain a competitive edge in 2021.
If you're interested in learning how Market EyeQ can help your dealership increase both new and
pre-owned sales in 2021, contact us
for a free demo.
50%
OF ALL NEW
VEHICLE REGISTRATIONS
THROUGH JULY 2020
WERE FOR SPORTS
UTILITY VEHICLES
IHS MARKIT, OCTOBER 2020
IN 2020,
61% OF BUYERS AT LEAST PARTIALLY USED
ONLINE SERVICES TO PURCHASE A VEHICLE