Wednesday, December 2, 2020
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customers

Study shows that negative auto dealer ratings are on the decline—Why?

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Today, it can quickly feel like company reputations either rise or fall depending on what is said about them on Yelp, Google, or any other relevant review site. For dealers, this may feel even more crucial, as dealerships are often looked at through a critical lens by customers and media outlets because of the complexities […]
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innovation

Five factors that drive innovation in auto retail

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Dealership gross profits have declined from 3.3% to 2.4% between 2015 and 2018. Over that same time frame, an average dealership’s operating profits saw an even more drastic decline – from 8.9% to just 1.7%. The decline in profitability coincides with a growing dissatisfaction among consumers regarding the traditional vehicle purchasing method. According to global […]
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video

Best practices for using video on a dealer site

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We live in an emerging Golden Era of video and photography. The new iPhone 12 can record videos in Dolby Vision format, and they can also be edited on the phone. It’s truly an amazing time when what was once the domain of major filmmakers and multiple thousands of dollars worth of equipment is now […]
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Policaro

Policaro Group on the use of innovation and technology in automotive...

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In Southern Ontario, COVID-19 affects customer sentiment just like the rest of the world. Google reports that 59% of car shoppers would complete their purchase online if the option existed. That’s driven dealers like Ontario-based Policaro Group to develop their online retail solution known as Policaro Access, giving customers the option to shop in person […]
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showroom

Tips to improve your virtual showroom

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On a typical day, when most people will never stop by your dealership but they’ll visit your website, the importance of digital showroom curb appeal matters tremendously. If your website doesn’t meet your possible buyers’ standards, you won’t grow online, and you’ll suffer in sales at your brick and mortar location. The same welcoming, organized […]
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online

Online consumer engagement showing indications of industry rebound

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Car shoppers are continuing a slow but steady push back to normal purchasing practices, according to analysis of marketing data by Comscore in a press release issued Tuesday, and used car shopping is where the greatest interest growth has occurred. How customers are shopping, however, has changed dramatically from in-person to online, helping retailers and […]
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retail

Auto industry recovering well amidst retail slump

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Most industries have taken a devastating hit because of the coronavirus pandemic, with some recovering at a faster pace than others. The auto industry was greatly impacted according to a July McKinsey report, which noted that car sales had tanked worldwide including a 47% drop in the U.S. and drops of 71% and 80% in China […]
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Vroom

The challenge is on for franchised dealers as Vroom, Carvana stock...

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On Tuesday, Goldman Sachs upgraded online auto retailers Vroom Inc and Carvana Co from ‘Hold’ to ‘Buy’ status and raised the price targets for both companies. After a challenging past two quarters for the auto industry as a whole, analysts at Goldman Sachs expect that the online sales giants are poised to increase their market share in the coming […]
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marketing

Moving marketing to an increasingly online environment

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Apple’s fall product launch for the new iPad and Apple Watch moved online in 2020, and Nike launched a line of activewear in September digitally. For far-reaching product launches, global industry leaders have had to adjust their strategies to unveil new products almost exclusively online. Ford did so with the launch of the new Bronco […]
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virtual retailing

Phone Skills a Key Ingredient for Effective Virtual Retailing

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In light of the ongoing pandemic, auto sales and service continue to grow in popularity online. Capgemini research from May 2020 shows that “46 percent of prospective [car] customers will increase their online shopping because of COVID-19”. The longer the virus affects the country, the higher that number will climb. For consumers, it’s a matter […]
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