The automotive industry is quickly advancing toward a new world that will bring Electric Vehicles (EVs) to the forefront. By 2035, the largest automotive markets are predicted to be fully electric. Change is coming, and our plan is to embrace it while helping your dealership adapt to continue achieving success!

Our first on-demand GoTrader Carology Talks: Forces of Change – Supply and Electric covers everything you need to know about the transition to EVs across the industry. This episode is hosted by Ian MacDonald, Chief Marketing Officer at gotrader.ca and our seasoned GoTrader Carology guest, Nick King, Insights Director at GoTrader UK.

Nick bring’s you up to speed on the latest EV trends and consumer research insights, the road to 2030, and the prevalent opportunities for car dealers like you! Watch the full video below and find out how your dealership can prepare to serve the EV buyers of today and tomorrow!

TRADER’s first virtual Carology event of 2021 may go down as the most data oriented and strategy focused Carology event yet! Following a year of challenges and disruptions posed by the pandemic came heaps of data and insights to better understand shifts in consumer shopping behaviour and trialing new strategies to find successful and safe ways to operate. All these findings, and more, were unpacked by automotive industry experts who offered up their own experience and knowledge to create a complete guide to evaluating and enhancing dealership operations, both now and in the future.

The flagship online event was hosted by Ian MacDonald, Chief Marketing Officer at TRADER Corporation. Ian was joined by four key speakers including, Bryan Segal, Vice President Commercial, Comscore, Cathie Pattinson, Dealer Principal, One Price Used Car Superstore, Baris Akyurek, Director Marketing Intelligence at TRADER Corporation, and, keynote speaker, Andrew Tai, CEO of Motoinsight.

TRADER Carology opened with an overview of Canadian consumer shopping behaviour and trends. Baris Akyurek shared reports published by RBC Economics, that looked at consumer spending habits over the past 3 years, which revealed a tangible increase. Specifically, in the automotive industry, there was a spike in spending on gasoline over the past year, as more people avoided use of ride share or public transit. This came as no surprise, as research results on display at last years’ Carology event demonstrated the increase in desire to own a vehicle over other methods of transportation.

What was most notable for dealers was that RBC’s study revealed an increase in household savings since the start of the pandemic, and, 64% of Canadians plan to use this money to purchase a vehicle. Baris’ forecast shared that as vaccines continue to roll out, an improvement in economic outlook will follow, which combined, are likely to fuel new vehicle purchases later in the year.

Bryan Segal from Comscore provided a more granular view of car shopping trends and preferences, as well as performance of online automotive marketplaces. Bryan’s session was loaded with valuable data and insights, revealing how Canadians are increasingly moving towards using multiple devices to consume online content, with mobile devices leading the charge with time spent online. Specifically, 78% of the Canadian digital audience accessed the internet through a mobile device, demonstrating the increasing importance of making specific considerations for mobile when thinking about your dealership’s online presence.

Looking into where consumers are online, Bryan shared that 41% of Canadians visited online automotive resources in February 2021. gotrader.ca was the most popular site used, reaching 14.2% of Canadians, followed by Kijiji Autos at 9.8%, AutoGuide.com at 5.4%, Driving.ca at 4.9% and Internet Brands – Automotive at 4.1%.

Bryan concluded his session with an overview of how car shopper intentions have changed over the past year, providing a promising outlook for Canadian car dealers. Comscore found that 55% of intenders said the pandemic did not change their timeline to purchase a vehicle, while 27% claim the pandemic did not change their plans to purchase. What’s even more encouraging is that 13% of respondents said their time to purchase may be shorter, resulting from numerous factors, including new customer assistance for vehicle purchases, fluctuations in COVID case numbers, and an overall erosion of trust with public transportation, thus encouraging vehicle purchase considerations.

The next speaker was a first at a Carology event, with one of TRADER’s dealer partners joining to share first-hand experience of specific strategies and tactics to overcome challenges posed by the COVID-19 pandemic. Cathie Pattinson, from One Price Used Car Superstore, took the audience through the difficult changes she and her husband needed to make in order to re-strategize their business and drive success following a 7-week closure of their store. She walked through step-by-step changes they rolled out, which included acquiring vehicles online instead of using in-person auctions, changing their operational structure, and cutting costs where they could. She encouraged dealers to not be afraid of change and to leverage the arsenal of tools and resources to adapt and overcome any challenge they may face. Embracing change and rolling out strategic improvement to their dealership operations resulted in immediate success, with multiple months of profits that Cathie’s business had never experienced before.

The final address of the day was from keynote speaker Andrew Tai, CEO of Motoinsight. Andrew is a strong believer in further digitizing the automotive vertical to provide consumers additional options to shop online, by embracing and emulating specific components of the approach leveraged by online giants from other industries. Andrew outlined the way online marketplace giants like Carvana and Amazon operate online today, translating the specifics into practical tips for Canadian car dealers looking to offer more to online consumers.

He broke down the way consumers want to shop into three categories: (i) those who want to complete the entire process online, (ii) those who want to shop on their own terms, both online and in-store, and, (iii) those who want to be up-close with the end product, exclusively shopping in store. In a very relatable format, Andrew described what is often termed the omni-channel experience – an experience he encourages dealers to offer to their prospective buyers, to not only maximize their reach, but, moreover, appeal to every car buyer persona and the specific preferences aligned to each.

The best way to summarize the tips that Andrew shared for dealers to emulate from Amazon and Carvana’s is through a check list:

• High quality merchandising
• Transparent and competitive pricing
• Seamless and convenient online and in-store shopping experience
• Be confident in your product and experience
• Promote special or unique offerings
• Exposure online is fundamental
• Build trust by leveraging third-party marketplaces and reviews

To hear more about all the exclusive data and advice that was shared throughout the event, check out the video below. There are many more tips to uncover that you can implement in your business to meet consumer needs, innovate your business, and, ultimately, make 2021 your most successful year yet!

The free virtual event will feature a diverse group of speakers specializing in key disciplines within Canadian automotive

TORONTO, ON – April 12, 2021: TRADER Corporation, Canada’s leading digital automotive solutions provider, today announced the return of its flagship automotive event – Carology: The Science of Selling Cars on April 20 at 1PM ET. The virtual event will feature expert speakers deep diving into successful strategies and techniques from leading online marketplace giants and laying out the current online Canadian automotive landscape. A TRADER dealer partner will also share first-hand experiences providing a valuable dealer perspective when touching on post-pandemic adaptation strategies and proven methods to leverage industry disruption to drive tangible results for your dealership operations. To register for free visit go.trader.ca/Carology.

Tailored for automotive industry professionals, this year’s event will be a deep dive into successful strategies and techniques, enhanced selling practices dealers can implement within their operations and trends in Canadian automotive consumption. Attendees will be instilled with actionable insights, exclusive data and learnings, imparting a deeper understanding of how to connect with Canadian automotive shoppers in the present digital world.

The speaker lineup includes:

• Andrew Tai, CEO of Motoinsight
  Keynote: Learnings for Dealers from Online Marketplace Giants

• Bryan Segal, Vice President of Commercial, Comscore
  Comscore Methodology & Canadian Online Automotive Marketplace Performance

• Cathie Pattison, Dealer Principal, One Price Used Car Superstore
  The Automotive Ice Age: Post-Pandemic Adaptations to Selling Used Cars

• Baris Akyurek, Director, Marketing Intelligence TRADER Corporation
  Canadian Automotive Market Insights & Marketplace Performance Update

• Ian MacDonald, Chief Marketing Officer, TRADER Corporation
  TRADER Carology Host

“TRADER’s annual Carology event was introduced with the vision of providing Canadian dealers with strategic and tangible insights to navigate the ever-evolving digital automotive landscape,” says Ian MacDonald, Chief Marketing Officer, TRADER Corporation. “The event brings together esteemed automotive experts from different sectors to share their unique perspectives with the goal of enhancing understanding of changing consumer behaviours before going one step further in showing dealers how they can leverage these insights to scale and grow their everyday operations. Last year the event received close to a thousand registrants and we are excited to share this knowledge with an even larger audience this year.”

Now in its sixth year, Carology is an extension of TRADER Corporation’s commitment to supporting the growth of the Canadian dealer community and equipping them with the knowledge and data-led insights to better inform business decision-making as they encounter challenges posed by changing consumer behaviours and the increasingly dynamic purchase journey.

Visit go.trader.ca/Carology to register today for free.

 

About TRADER Corporation
TRADER Corporation is the leading digital marketing partner for Canadian automotive retailers and manufacturers. With over 25 million visits a month and more than 6 million total mobile app downloads, TRADER’s largest automotive marketplaces – gotrader.ca and AutoHebdo.net – are the #1 source for all things automotive in Canada. The company offers retailers and manufacturers access to a robust audience of new and used car shoppers, best-in-class digital advertising, website and software solutions, and rich data insights. TRADER Corporation is the first to offer a completely integrated digital retail experience for consumers and dealers on a major Canadian automotive marketplace. For more information, visit go.trader.ca. Follow TRADER on LinkedIn, Facebook and YouTube.

 

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For further information or to schedule an interview:

Gage Knox
gage.knox@wearecoop.ca
647-537-7017

TRADER’s Carology event went virtual this year, welcoming dealers, OEM, agency, media and association partners across Canada to glean insight on The Science of Selling Cars. An impressive roster of industry expert speakers shared topics ranging from current and future industry trends, consumer behaviour insights, the car buying journey, and how technology has influenced the automotive industry.

The event was hosted by Ian MacDonald, Chief Marketing Officer at TRADER. Ian was joined by speakers from near and far, including Baris Akyurek, Director of Marketing Intelligence at TRADER, Lilian Lau, Vice President of Marketing at TRADER, Chris Schulthies, National Trainer at Wye Management, and Nick King, Director of Insight & Market Research at GoTrader UK.

MARKETPLACE HEALTH UPDATE

The event kicked off with a look into the gotrader.ca marketplace performance over the past year. Baris Akyurek gave a view into the spike in traffic to the marketplace, as visits grew +29% year-over-year between May to November 2020 and VDPs increased +22% year-over-year during the same period. He continued to showcase positive trends as well as an outlook on the automotive market, as identified by third-party research, largely due to changes influenced by the pandemic.

Some of the most notable trends included vehicle ownership becoming 3X more desirable compared to ride-share programs and 2X more desirable versus public transportation. Baris shared that the demand to use Digital Retailing during the purchase process has increased amongst car buyers, which set the stage for the information and topics covered by subsequent speakers.

TOP THREE HACKS TO ATTRACT FIRST-TIME CAR BUYERS: ATTRACTING, HANDLING & CLOSING SALES OPPORTUNITIES

Lilian Lau dove into today’s first-time car buyer and how these specific buyers differ from the experienced buyer. She noted that first-time car buyers are open to influence and often teeter between wanting a used and new car. They typically visit many dealerships, which opens the opportunity for dealers to ensure their online presence does a good job of encouraging them to visit their lot. She stated that when handling first-time buyers, it’s important to put their interests first and make the car purchase process an enjoyable and memorable experience.

Lilian went on to explain that since these buyers are digitally savvy, they are looking for a more simplified buying process and prefer the ability to do more of the process online. Simply put, dealers need to create a seamless experience between online and offline. Based on consumer research studies, she established that the top 3 triggers that drive first-time car buyers to purchase from a dealership are: (a) the availability of financing options, (b) transparent pricing with no hidden fees, and, (c) tools to complete a portion or all of the vehicle purchase online.

The information shared by Lilian logically flowed into both Chris and Nick’s segments, as they further shed light on the techniques, tools and processes dealers can utilize to attract buyers.

KEY STEPS TO FINISH OFF THE YEAR STRONG & START 2021 OFF ON THE RIGHT FOOT

Chris and Ian joined in a discussion that provided dealers with valuable tips to enhance the way they operate today. The key message during their talk was for dealers to establish a unique value proposition and to choose, define and stick to a specific business model. Chris explained that the top selling used independent dealerships in Canada have common themes of offering a credible warranty program and a one price selling model, which we learned through Lilian’s presentation is essential for attracting and closing sales opportunities with first-time car buyers.

Chris looks at the ideal sales process in three pillars: informative, transparent, and, faster or more efficient.  He touched on how consistency is fundamental to finding success and outlined the importance to market the unique offerings your dealership provides its shoppers. Chris encouraged each dealership to be consistent with every customer, at every stage of the journey, whether it’s online, over the phone or in the dealership. Some simple yet highly effective takeaways from Chris that dealers could implement right away were showcasing their unique sales process on their dealership website, within their VDPs, in the showroom, and on their social media profiles, in order to make it transparent to car buyers what the experience will look like.

ADAPTING AND WINNING IN A MASS FORCED TECH ADOPTION

The event concluded with insights from keynote speaker Nick King, Director of Insight & Market Research at GoTrader UK, who compared much of the car buying experience to other purchases. He explained that consumers expect the buying options they have through one retailor, to be the same in any other life transaction. Backed by mystery shopper research, Nick discovered many flaws and gaps in the car buying journey, that, if prevented, one in three consumers would have bought a car sooner if they had not experienced these pitfalls. Some of these issues included not being acknowledged by sales staff, not following up with a lead, having long wait times in store or on the phone, and not asking if the consumer even wants to buy the car, (or two, or more!).

Similar to Chris, Nick believes in four pillars of success: ease, transparency, speed and simplicity. In order to avoid the aspects of car buying that consumers find challenging, he suggested to allow easy comparison between new and used vehicles, and, understanding what triggered each prospective buyer to want to purchase a car as a means to simplify the buyer’s choice and options. This will help achieve all four pillars of success and ultimately drive the shopper to make the purchase with that particular dealership.

Each year Carology aims to share what it takes to win in an increasingly competitive digital automotive landscape. This year’s Carology was no different, effectively summarizing the trends observed through car buying behaviour across the year, combined with predictions heard over many years, ultimately providing attendees with truly actionable takeaways to implement in their business to help find success in the coming months that will pay off long-term. It all boils down to adapting to what car buyers want –  a simple and transparent car shopping journey.

Thank you to everyone who joined us at TRADER Carology: The Science of Selling Cars. To revisit all the information that our speakers shared, or, if you happened to miss the event and would like to watch at your leisure, an event recording is available below.

There were many innovate ideas, exclusive data and expert opinions shared throughout the event. From in-depth consumer shopping behaviours and preferences, industry forecasts, strategies from one of our dealer partners and learnings from successful online marketplaces, we’re sure your team will want to hear these insights for themselves. We hope that your dealership can make good use of this educational content and incorporate some of the tips and techniques that were shared to make 2021 your most successful year yet!

This year’s Carology event, hosted by TRADER, reached new heights with diverse speakers, unique venues and an engaged audience of hundreds of automotive industry professionals.

TRADER Carology was hosted across major cities in Canada including Toronto, Montreal and for the first time ever, Ottawa and Vancouver. This year’s topic, Automotive Industry Disruption: Thriving in a Time of Change, resonated with retailers and agencies alike. With a constant shift in technology and shopping trends, there was a clear need to share insights into consumer expectations and how auto retailers can prevail during these disruptive times.

The speakers featured at the event were Brian Pasch, founder of PCG companies, Tim Scott, National Leader for Automotive Dealership Services at Deloitte Canada, and Trevor Byrne, Group Account Director at Red Urban Canada, leading the Subaru Canada brand. Each shed light on trends in the automotive industry and provided takeaways for attendees.

Trevor Byrne opened the floor by sharing trends he’s seen from the agency side of the industry, examples of disruptors that are changing the way we see technology today and ultimately will affect the automotive industry. He encouraged attendees to take risks and use a small portion of their marketing dollars towards out of the box thinking. His takeaway for attendees? Measure results. Retailers should reflect on the tactics they used, analyze the data, and adjust their digital marketing mix accordingly.

“I think it was really insightful. The speakers gave me some things to think about and rework within our dealership.”

Tim Scott of Deloitte’s Automotive Division provided insights from newly released Deloitte research on consumer behaviour. Scott explored how mobility will affect retailers, including current challenges, trends, and future opportunities. He dove into how consumer expectations have shifted and why dealers should focus on building loyalty and creating lasting impressions with prospective buyers. His takeaway for attendees is to stay on top of consumer expectations, while ensuring their teams are equipped to adapt to these changes.

Brian Pasch’s presentation focused on data and measurement as a method of how automotive retailers can gain a competitive edge. He explained that in reality less than 15% of leads dealers receive from their ads are interested in purchasing a vehicle. He approached the discussion around leads and what metrics are the most important for dealers to measure. Pasch made one thing clear in his presentation – it’s not about the quantity of leads, it’s about the quality of traffic and engaged consumers visiting the dealer’s lot.

“Carology was very insightful and very relevant to my everyday dealership operations. From the guys on the sales floor, to our internet department, we took away some key learning.”

With the expansion into new markets Carology had a record breaking audience in attendance. This year was a resounding success with 90% of attendees agreeing it was an exceptional event and will definitely be back next year!

Carology came about 4 years ago with the goal for TRADER to share insights and provide educational information on how consumers shop and what they’re looking for in their ideal car buying experience. The annual event brings together hundreds of auto dealers, OEMs and agencies to hear firsthand experiences of what it takes to win in an increasingly competitive digital automotive landscape.

Carology dates for 2019 will be announced on our social channels. In the meantime to continue learning about insights from TRADER and educational information subscribe today to Carology Insights.

TRADER Carology Vancouver was jam-packed with relevant insights for automotive industry professionals. Auto dealers, OEMs and agencies were in attendance to hear firsthand experiences of what it takes to win in an increasingly competitive, dynamic and disruptive digital automotive landscape.

The event was hosted on October 15, 2018, at the Annex Theatre in Vancouver, British Columbia, and offered unique insights the disruption within the automotive industry and how to thrive during this transitional time period. Industry leaders shared their knowledge and advice, backed by consumer data evidence, to help the industry adapt and prepare for the future, and, ultimately steer the automotive industry in a positive direction.

Check out the event highlights below!

Event Highlights & Keynote

TRADER Carology Toronto was jam-packed with relevant insights for automotive industry professionals. Auto dealers, OEMs and agencies were in attendance to hear firsthand experiences of what it takes to win in an increasingly competitive, dynamic and disruptive digital automotive landscape.

Held on September 25, 2018, at the Glenn Gould Studio in Toronto, Ontario, the event provided unique perspectives on the disruptions within the automotive industry and strategies for thriving during this transitional period. Industry leaders shared their knowledge and advice, supported by consumer data, to help the industry adapt, prepare for the future, and ultimately steer the automotive sector in a positive direction.

Check out the event highlights below!

Event Highlights & Keynote