Tomera Rodgers on July 14 2021

How Dealerships Use Dynamic Retail Data for Profitability

Retail data has shown its true worth over the past year. But why is it so important and why should it matter to dealerships specifically?

The pandemic has naturally caused uncertainty and concern in many industries and the automotive industry has seen some major shifts in buying habits. Buyers are now not so eager to spend money without logical consideration and comparison shopping. There is a great deal of research done before they ever arrive at the showroom. In turn, dealerships must be able to do their own research in the most efficient and cost effective way while fairly pricing their stock.

Data-driven retail is a modern approach to valuations forecasting and is changing the way vehicles are valued and sold. Using the right tools that highlight prices of each vehicle in your forecourt and reveal similar vehicles for detailed comparison are essential. This is the same methods that buyers use to compare but offers dealerships many more ways of using these insights. It allows competitive pricing but also supports stock maintenance and control. Accurate and timely information about the vehicle allows dealerships to see the full picture of their business while attracting and retaining quality leads and eventually customers that become brand advocates.

Cazana has recently produced an ebook called Profiting in a Fast Moving Market with Dynamic Retail Data that can help your dealership profit in an ever-changing market. Dealerships will be able use the information to strategize and obtain those quality customers in a trusted way. More importantly, it highlights two valuable digital products that can help achieve success such as:

  • Cazana Multi: a powerful enterprise tool that interrogates vehicle lists into bulk for Excel or CSV
  • Cazana Companion: helps dealers identify the right stock to buy and fairly price vehicles for a fast sale.

 

Cazana’s products are designed to help dealers make the most of their stock and maximise profits. The insights can give dealerships the ability to see how a vehicle has lived to include maintenance, resell activity and identifying manufacturer’s information. For more information on how Cazana can support your profit margin, contact the team at Cazana.com

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