Powersports Business Decemeber 2024 | Page 13

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Consumer insights and key trends for 2024

As the year winds down , there are still plenty of motorcycle sales opportunities that we can tap into . With the end of the year in sight , it ’ s important to remember that every sale JENNIFER GREEN-NEFF counts and can contribute to a robust finish . Fortunately , 2024 has provided us with vault data to leverage for valuable insights . This data can be instrumental in not only helping dealers finish this year strong but also in setting the stage for a successful start to the next one .
Let ’ s take a closer look at the roadmap of consumer data collected to understand how the market has fared throughout the year and where it currently stands . By analyzing trends , preferences and buying behaviors from Cycle Trader buyers through 2024 , we can identify key opportunities that will allow us to capitalize on the remaining months .
MAKE-MODEL PREFERENCES IN 2024
Top Make-Model ( SRPIs ) 1 . HARLEY-DAVIDSON-STREET GLIDE 2 . HARLEY-DAVIDSON-ROAD GLIDE 3 . HONDA-CRF 4 . HONDA-GOLD WING 5 . YAMAHA-YZF Top Make-Model ( VDPs ) 1 . HARLEY-DAVIDSON-ROAD GLIDE 2 . HARLEY-DAVIDSON-STREET GLIDE 3 . HONDA-GOLD WING 4 . YAMAHA-YZF 5 . HARLEY-DAVIDSON-ELECTRA GLIDE
BRAND LOYALTY TRENDS IN 2024 Top Makes in 2024 Top Makes ( SRPs ) 1 . HARLEY-DAVIDSON 2 . HONDA 3 . KAWASAKI 4 . YAMAHA 5 . BMW Top Makes ( VDPs ) 1 . HARLEY-DAVIDSON 2 . HONDA 3 . YAMAHA 4 . KAWASAKI 5 . BMW
Overall , the top brands that consumers prefer remained consistent throughout the year , as reflected in both search results page impressions and vehicle detail views on the Cycle Trader marketplace . The leading brands consistently included Harley-Davidson , Honda , Kawasaki , Yamaha and BMW . This consistency indicates that consumers are not only actively searching in the market but also demonstrating strong brand loyalty .
Capitalizing on this brand loyalty can help build lasting relationships with customers who are likely to purchase as we move toward the year ’ s end . By aligning your marketing strategies and promotions with these preferred makes , you can attract more engaged buyers and enhance your sales efforts .
In 2024 , Harley-Davidson Street Glide , Harley-Davidson Road Glide , Honda Gold Wing , Yamaha-YZF and Harley-Davidson Electra Glide ranked as the top viewed models on the Cycle Trader marketplace . Notably , the Road Glide had the highest vehicle detail page views . We also observed that while the CRF ranked top five for searches , it didn ’ t place in the top viewed models .
There are several potential reasons for these variations , including how effectively each unit is merchandised , search engine optimization ( SEO ) practices , inventory levels and the use of advertising enhancements .
As a dealer , focusing on the merchandising strategies for these top models can significantly impact visibility and engagement . Ensure that your inventory is wellstocked with these trending models and optimize your listings to improve SEO . By utilizing targeted advertising enhancements , you can attract more potential buyers and maximize your sales opportunities in the coming months .
As we wrap up our review of 2024 , it ’ s clear that the consistent performance of top brands and models not only reflects consumer preferences but also highlights the significance of brand loyalty in the motorcycle market . By harnessing the insights gained from search results and vehicle detail page views , dealers can make strategic decisions that not only boost sales but also strengthen customer relationships . Looking ahead , prioritizing effective marketing , optimizing listings and leveraging targeted advertising will be crucial in capturing the interest of engaged buyers .
Jennifer Green-Neff is the VP of brand marketing for Trader Interactive . By understanding consumer needs and market trends , she strategically teams up with dealers to ensure they connect with consumers searching for their dream vehicles .