How automotive retailers can thrive in a retail slump
Retailers have been struggling in 2017.
Every week there seems to be a new study, prediction, analysis, or article trying to explain why consumers are spending less on retailers. In March 2017, retail sales dropped 0.2%, much of them attributed to automobile retail sales. That might seem like a low amount until you consider that the expectation was 0.1%. In other words, sales dropped twice as much as expected.
In May, U.S retailers experienced their worst sales month in as much as 16 months. Once again, the drop was attributed, in part, to slow auto sales. However, the news isn’t all doom and gloom. At the beginning of the year, Forbes reported that the holiday season “showed a record number of online shopping being done.”
The story is becoming clearer.
The problem is less about retailers struggling and more about consumer spending shifting over to online shopping. But for auto retailers, that presents a problem. How does the auto retail industry, known for its location-based business and person-to-person interaction, make a shift to the eCommerce world?
The answer, as it has been for many other industries, is on digitalisation.
Our global report: “The Changing Landscape of Automotive Retail: A Global Perspective” looks at recent trends in the auto retail world, how digitalisation has been adopted by the industry’s most successful and innovative brands, and how retailers can act today.
Auto retailers need to move faster than they have in the past few years or risk being left behind completely. Consumers have already made the shift and as bigger brands and other retailers embrace digitalisation, auto retailers must compete in a completely different environment.
Download our report and learn how you can get ahead of the competition.
Consumer Behavior and Expectations: The 2017 Holiday Shopping Report
Announcing Trustpilot’s first research report, the Consumer Behavior and Expectations: The 2017 Holiday Shopping Report. This report analyzes over 1 million global reviews and 13,000 consumer responses to help retailers understand and exceed consumer expectations this upcoming holiday season (November and December). By looking at past consumer activity from the 2015 and 2016 holiday season, we’re able to explore how consumers feel during this active shopping season and help retailers react and adapt to this behavior.
The comprehensive guide on how to build a customer feedback strategy
Your company is smart. It studies its playbook and goes over past marketing plays to be prepared for its upcoming moves. It knows that brand reputation based on customer feedback is a critical step in growing as a healthy company.
Better decisions are made for the sake of your company not only through open discussions and internal feedback, but through the feedback from surveys you send out.
Your customers aren’t ashamed to tell you just how well or poorly their interaction with you went, and by leveraging the feedback from them, you gain valuable insights that will shape your current efforts at acquisition and retention, as well as shaping the way you prospect and build your sales.
Bad reviews: why people write them, and what they expect
If you’ve ever ordered your morning coffee and felt uninspired by the request to participate in an online survey or leave a social review regarding your experience, you probably didn’t have a particularly noteworthy experience. If you’re willing to take time out of your day to leave online feedback, it’s usually because you want to warn people about a bad encounter, or to help them make a better buying decision.
In a world of viral marketing and social influence, online reviews have the power to make or break small businesses, but they aren’t the only companies paying attention. Reviews have become such a pivotal part of the buying experience for so many customers, that even tech goliaths like Apple can’t help but play an active role in responding to more critical responses.
So what compels us to leave reviews online, and what are we really hoping to achieve by contributing to the public discussion of a brand, experience, or product? To find out, we surveyed over 1,000 European and North-American consumers about why they leave bad reviews, how good experiences inspire them to give feedback, and the kinds of reactions and rewards they sometimes expect to receive as a result of their critiques.
Think the online review phenomena might sometimes have ulterior motives? Read on to see what we uncovered.