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It’s Officially the Women Buyers Era...
OEM’s are increasing their advertising towards this powerful buying segment. Smart dealerships are too. Women bought an estimated 13 million cars at new car dealerships last year; an estimated 35,000 vehicles a day.
How many female “up’s” are converting to buyers at your store? If you aren’t tracking that number yet, we suggest you start accounting for sales by gender. The upside of your gross profit potential is tied to this.
The 2015 US Women’s Car Dealership Report, compiled after 3,450 women’s car dealer ratings and reviews, showcases the top car brands as rated by women when purchasing. Each brand’s WSI® or Women Satisfaction Index is derived by taking the aggregate of all the dealer’s scores from that brand’s reviews on the site ranging from a 5.0 (highest) to 1.0 (lowest).
The average WSI® for purchasing was 4.73, up from up from 4.65 last year. The top ten rated brands are Mercedes-Benz (also held the #1 spot in 2014), Lincoln, Dodge, Jeep, Chrysler, Volkswagen, Lexus, Chevrolet, Ford and Volvo. They were followed by Audi, Toyota, Hyundai, Subaru, and Nissan brands.
One in 3 women buyers describes being “apprehensive”, “nervous” or “overwhelmed” at a dealership when buying. Another 13.4% say they feel “intimidated” or “frustrated”. In this hyper-competitive market, what is your dealership doing to combat this? Do you offer a hassle-free, seamless experience?
You’ve heard it before: women have a different set of needs and expectations when buying a car. Yet, it’s a pretty straightforward equation. Car manufactures and dealerships that focus on treating women well by engaging and respecting them in a trustworthy manner throughout the purchase process are positioning themselves exceptionally to capture future business. It is not the luck of the draw; these businesses have processes and training in place to optimize the customer visit. More importantly, the execution of that training is being fulfilled.
Certified Dealers Rate Higher
While the overall WSI® score was 4.73, there is a distinct difference in the dealerships’ reviews and scores.
There is a tremendous upside for dealers to become Certified and distinguish their business to women+families. These numbers indicate a correlation between Certification, higher CSI and increased sales and profits.