Merchandising New In-Stock Inventory

Hi, this is Shane Hambly from eDealer as well
as Kyle Orlando. What we’re going to talk about today is 5
things that we think dealers have to be doing right now in automotive. One of these things that we definitely think
dealerships should be doing without question is merchandising their new in-stock inventory. I can’t tell you how many times I’ve looked
at a dealership website and there’s been stock photos, call for pricing, all of these things
consumers don’t want. What they actually want to see is they want
to get an attachment to that vehicle that they’ve actually been thinking about buying. They want to see actual photos, they want
to see a real transactional price, they want to see incentive data on new in-stock inventory. I mean realistically what you’re really trying
to do is create that emotional attachment. If customers are only going to 1.8 dealerships
on average when their shopping for a car – the numbers we get from Google thinkauto – you
really only have one kick at the can for them. If your website is the one that doesn’t do
all those things, you’re out there competing against dealers that are. Thinking and sticking specifically with new
in-stock inventory, I’m still having the conversation with dealers across Canada, “do I need to
have my new in-stock inventory on my website and why?” There has been a common fallacy across the
industry over the past 5-10 years that you don’t need to have new inventory on your website
and it can in fact hurt you because “what if somebody comes to my website and I don’t
have the exact inventory piece they’re looking for? They’re going to go somewhere else.” There is zero data to support that. I understand the sentiment why many dealers
may feel that way. What I can tell you is 100% of the time that
I’ve added new in-stock inventory to a dealers site that did not previously have in-stock
inventory the results have improved, in some cases dramatically. The one takeaway, to come away with when talking
about new in-stock inventory: make sure you merchandise it, make sure you price it, make
sure you have incentive data and make sure it’s there.

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