A cynic once said, “If you want loyalty, buy a dog.”
It isn’t quite that bad for auto dealers, but they and the auto industry in general face a new generation of consumers with their own definition of loyalty. Increased competition and online pricing are partly to blame for a decline in loyal consumers, says Doug Van Sach, AutoLoop’s vice president-analytics and data services.
“The hard truth for dealers is most consumers have redefined what it means to be loyal in the digital age,” he says, citing a need for auto retailers to stay engaged with sales and service customers.
Read more about buyer behavior and those sometimes-baffling Millennials who are changing the way everyone shops for cars.