• Car Dealer Plus
No Result
View All Result
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
No Result
View All Result

Why flexibility will drive motor retail in 2021

SPONSORED: James Tew, CEO of iVendi, explains why the company's ‘connected retailing’ concept answers the needs of car, van and motorcycle buyers in the new normal

Car Dealer Magazine by Car Dealer Magazine
January 15, 2021
0
Home Supplier Tips

Since the start of the pandemic, dealers have had to learn to become businesses that can switch between offering extremes of primarily online and showroom-based retail – or any point in between – at a moment’s notice.

This is a crucial development, as it has changed the relationship between those two spheres almost certainly permanently.

Dealers who saw themselves as digital-first or showroom-first concerns now exist only in niches.

Almost everyone has adopted a hybrid approach, and there is a growing and widespread recognition that the majority of car, van and motorcycle buyers use both paths at some time in their buying journey and expect to be able to switch between these two channels at will.

Certainly, there is plenty of evidence of this.

For example, the average car buyer spends about 270 per cent more time online than in the showroom (reference: CMO Survey) but 80 per cent still want to complete a test drive before buying (reference: What Car?).

These are not contradictory impulses. Instead, they are the best use of each channel at different moments in the purchasing process.

So what does this mean in 2021? Simply that dealers will need to provide an equally positive and complementary experience for buyers digitally and in the showroom.

It makes sense to consolidate the systems used to handle their needs into one solution, and at iVendi we believe that now is the right time for a concept that we call ‘connected retailing.’

We link retailer, lender and consumer at every stage of the buying process – research, decision and purchase – through an integrated range of three online products that are uniformly effective both online and at the dealership. We call them ENGAGE, CONVERT and TRANSACT.

There is much discussion at the moment about the new normal and what it might look like.

We believe that at a moment when consumers expect absolute flexibility and the ongoing effects of the pandemic demand it, the world we are describing here is the new normal – and connected retailing is the right approach for this world.

The iVendi connected retail range

ENGAGE is designed to help consumers find the right vehicle.

It rewrites the rules for online car, van and motorcycle search by completely turning on its head the process through which relevant dealer stock is shown to the consumer.

Instead of rigid dropdown menus driven by the assumption that people already know which model they want, it uses the natural language adopted by the majority of vehicle buyers, narrowing their inquiry rapidly and successfully.

CONVERT facilitates the process of transforming initial online consumer interest in a vehicle into a sale.

Key features include a reservation tool, finance eligibility checking, finance application processing, multi-lender quoting, and consumer-centred finance product information and videos.

It also introduces iVendi’s innovative stock engine technology, which proactively checks for data conflicts in vehicle identification information.

TRANSACT develops online consumer interest in a specific vehicle through to a final transaction while managing the complexities of the sales process.

It also enable deals to be created online in the same way as a face-to-face conversation, with flexible negotiation over price and other key factors such as value-added products, using something iVendi calls a ‘Digital Deal’ to enable a natural, ongoing style of negotiation.

Since April, Digital Deals have been used to generate sales totalling more than £82m.

ABOUT IVENDI

Founded in 2009, iVendi is the market leader in motor retail technology both in the UK and internationally.

With a modular product range that engages consumers, converts buyers and manages transactions, iVendi technology interacts with around five million consumers every month and thousands of motor retailers, manufacturers and finance providers.

The company is based in Colwyn Bay.

Visit ivendi.com, email [email protected] or call 0345 226 0503.

    • Join our breaking news WhatsApp group – Click here to join now
    • Car Dealer Podcast – Listen to the latest episode here
    • Car Dealer Top 100 – The most profitable car dealers in the UK here
Please login to join discussion
Previous Post

Five people arrested after BMW dealership targeted twice by thieves in the same morning

Next Post

Renault Retail Group sells flagship London West showroom for £39m

Related Posts

Heycar helps secure £40m a month in used car sales as it celebrates first anniversary
Supplier Tips

Heycar extends free delivery offer to the end of January 2021 because of coronavirus variant disruption

January 4, 2021
https://www.handlerprotect.com
Supplier Tips

What dealers need to know about warranty requirements when retailing a vehicle

December 17, 2020
These are some of the most expensive cars on Facebook Marketplace
Knowledge

These are some of the most expensive cars on Facebook Marketplace

December 22, 2020
Ben Garside: FCA is on the warpath so expect sweeping changes
Supplier Tips

Startline Motor Finance turnover on target to increase by a fifth as prime lenders tighten criteria

December 16, 2020
Boost for dealers as used car reserve prices now revealed on Motorway Pro
Supplier Tips

Boost for dealers as used car reserve prices now revealed on Motorway Pro

December 15, 2020
New iVendi upgrade ‘sees 32 per cent increase in leads and inquiries’
Supplier Tips

Partnership deal struck between iVendi and YesAuto over motor finance technology

December 13, 2020

Want to receive the latest news?

Sign up to the Car Dealer daily news briefing for the latest news and advice during these unprecedented times.

Subscribe Now
Car Dealer Top 100 – The list in full of the most profitable car dealers in the UK
Car Dealer Top 100

Car Dealer Top 100 – The list in full of the most profitable car dealers in the UK

December 21, 2020
Used Car Awards Shortlist: Find out who made it through mystery shopping and are now in running for our gongs
News

Used Car Awards Shortlist: Find out who made it through mystery shopping and are now in running for our gongs

January 6, 2021
Car Dealer Live: Data shows there are buyers out there and they want new cars via click and collect, say What Car? team
Car Dealer Live

Car Dealer Live: Data shows there are buyers out there and they want new cars via click and collect, say What Car? team

January 15, 2021
Car Dealer Live: Top tips for car dealers to keep business and spirits high during national lockdown
Car Dealer Live

Car Dealer Live: Top tips for car dealers to keep business and spirits high during national lockdown

January 15, 2021
Less demand at home and abroad sees car production drop by nearly a fifth
News

Car dealers blast manufacturers for continuing to impose sales targets during lockdown 3 as ‘morally wrong’

January 15, 2021
Become a Car Dealer Plus member and get more out of this website including free legal advice
News

Become a Car Dealer Plus member and get more out of this website including free legal advice

January 15, 2021
Car Dealer Power

Car Manufacturer of the Year – Where did your manufacturer rank in Car Dealer Power 2020?

January 15, 2021
Car Dealer Power

The best car dealer suppliers named in the Car Dealer Power Awards 2020

November 26, 2020
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100
  • CD Plus
Call us: 020 8125 3880

© 2020 Blackball Media

No Result
View All Result
  • Car Dealer Plus
  • Latest
  • Used Cars
  • Live
  • Forum
  • Power 2020
  • Used Car Awards
  • CDX
  • Knowledge
  • Suppliers Guide
  • About Us
  • Latest Issue
  • Top 100

© 2020 Blackball Media

Log In
Register
Register
Server C