Digital (F&I) Retailing Opportunity - Are You Ready?
Consumers' satisfaction with the experience of buying a vehicle is growing, and so is their interest in handling more parts of the process online. But retailers largely are not ready to meet customers' increasing digital demands, a new survey found, while changing consumer interest is creating more opportunities for dealerships to improve their digital retailing capabilities.
A recently released Cox Automotive study that explores customers' preferences around online retailing revealed some interesting statistics that should have all retailers accelerating their adoption to digital retailing tools. Some of those are:
- 61% of dealers say less time spent on a sale is a benefit of using digital retailing products
- 84% of consumers say digital retailing creates a more seamless buying experience
Additionally, the study cites a gap between what consumers want to do online and their actual behavior online, particularly when it comes to choose F&I protection products. It goes on to say that gap could be because simply doesn't offer what is necessary online.
We couldn't agree more. Now is the time to get your F&I products on your website. Create a transparent environment which, at a minimum, provides information about the valuable protection products available from your dealership to your customers.
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