Sep 02, 2014
Did you know that women make or influence 85 percent of all consumer purchases? Women buy more than half of the new cars in the U.S. and influence up to 80 percent of all car purchases. However, the majority of women say they’re not respected or comfortable at a dealership and that advertisers do not understand them.
Who’s earning and spending?
Over the next decade, it is projected that women will make up two thirds of the wealth in the U.S. and by 2028, the average American woman will earn more than the average American male. Women are also projected to control two thirds of the consumer wealth in the U.S. within the next decade. Within the car industry, women spend more than $200 billion on new cars and mechanical servicing of vehicles each year.
How comfortable is a woman in your dealership?
In a recent Auto Remarketing article, research shows women want respect more than anything at a dealership. The article lists respect and trust before price as the top two items of importance to a woman when purchasing a car. Women remember and pay more attention to detail than males do – we can agree the male and female brains function differently. All things considered, how comfortable is a woman in your dealership? A woman is more likely to spend money if she’s comfortable and feels trust has been established.
Having said that, here are a few questions for you to ask yourself:
- Is your advertising geared to get the attention of or offend women?
- When is the last time you cleaned the women’s restroom in your dealership (pet peeve of mine personally)?
- What kind of magazines are in the restroom – family oriented or ones with half disrobed females on the front cover?
- Would she be comfortable taking her children to the restroom or the sitting area – sanitary and safe?
- Do you have toilet paper and paper towels in the restroom?
- Do you have working light bulbs or does your dealership look more like a disco with strobe lights?
- Do you keep the desks and paperwork area dust and clutter-free and the chairs clean?
- Do you show respect to the women that walk into your dealership, take them seriously and look them in the eye to establish trust?
- Do you HEAR what their automotive needs are?
It’s in the details!
Sometimes, I am still surprised at what I find when I walk into some dealerships. These are very basic things which would be easy to implement and ARE important in making the “purchase power majority” feel comfortable and at ease buying a car from you. Making a few minor adjustments on some of the above could go a long way in capturing more of that 80 percent influence and ultimately increase your sales!
Karen Millwood is an Account Executive for NextGear Capital, the largest independent inventory finance company in North America.