trends lowest since September of 2021 .
While inflation pressure on homeowners and business owners nationwide has received a large amount of media attention in 2023 , many consumers continue to spend . This report cites “ The Retail Doctor ” Bob Phipps on that point : “ People who have money will still spend . While thrifting will get much coverage in 2023 , don ’ t make the mistake of leading with discounts and cheaper options . The only way to make more money is by training your crew on how to use top-down selling .”
Trends OPE Dealers Need to Watch Closely
Digital Marketing This report ’ s first area of focus is on the trend toward digital marketing . Skeptical readers might question that a company focused on providing digital services will obviously emphasize digital transformation . The company and report , however , are not wrong and are not being self-serving here . Our lives are increasingly digital , and here is what that means for your OPE business through the rest of this year .
For marketing , dealers and the entire industry need to stop thinking about a bifurcation of “ digital ” marketing and “ offline ” marketing . It ’ s all marketing , and digital is the primary implementation for locally focused businesses . Yes , you can and should continue to use print marketing like local newspapers and direct mail pieces . And these communication pieces should direct readers to your website first .
“ Your website is no longer an extension of your showroom , it is your showroom , and your dealership is the extension of your website ,” says Sara Hey of Bob Clements International in this report .
Hey states that your website needs to do at least these three things . First , answer the most basic questions shopper have , and those are questions about your inventory , your service functions ,
and financing options . I would add the basics of your location , store hours , and contact information . Second , Hey says your website should look and feel like your physical store , whether that ’ s simple and casual , or polished and high-end . Third , Hey advises that your website should let “ your customers buy online and pick up in the dealership .”
To read more about website modernization , read our feature on p . 16 .
Electrification From auto makers to mower manufacturers , the future is about batteries . Pushed by rising consumer interest as well as government incentives , both local and national , electrification is quietly ( and not so quietly ) cutting a path forward .
But does electric sell ? According to the Ideal trend report , battery-powered equipment sales in 2022 were actually down slightly compared to 2021 . “ We see a slight dip ( -8 %) in battery-powered equipment for 2022 ,” says Eric Johnson , data architect at Constellation Data Solutions , “ but ( battery-powered equipment sales are ) still on track to average 32 % annual growth from 2019-2022 . While it isn ’ t anywhere near the size of their gas-powered sales , the growth cannot be underestimated and is affecting almost every part of the business due to the effect on parts and service .”
The shift is leading to larger outdoor power equipment too . At the most recent ConExpo trade show in Las Vegas , manufacturers including Bobcat , Case , John Deere and other introduced a range of vehicles with battery or hybrid-electric power . Cummins recently announced investments of millions of dollars in “ new power ,” with a focus on hydrogen .
We left a large amount of information out of this summary of the Ideal OPE trend report . You can view the complete report on the company ’ s website . And continue looking here for more data and analysis .
www . OPEBusiness . com April 2023 OPE Business 25