Over the past decade or so, the world of vehicle sales has changed in ways that have greatly concerned traditional retailers. The rise of the Internet has brought with it a new flock of sellers, new consumer expectations, and new methods for the public to research vehicle features and benefits, and compare prices.
You don’t need me to tell you this has struck fear into the hearts of many traditional retailers. Online upstarts have different business models and can engage with consumers in new and innovative ways. Some traditional retailers might even despair (and I’ve heard it myself): “What consumer would ever want to do business with a traditional retailer now that they can go online, find the vehicle they want, and buy it without needing to step foot into a brick and mortar dealership—at any time of day or night with just a few clicks?” But while they do have a point, there’s a bigger picture they might be missing.
Read more about some of the things you can do to help adapt your team to the new world of retail.