Gart Sutton & Associates drives top powersports dealers to superior operations, sales and profitability. We do this through Dealer 20-Clubs, a blend of training opportunities, resources and business operations support.
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"New" Powersports Consumer by Gart
"Happy days are here again.The skies
above are clear again.So let's sing a song of cheer again.Happy days
are here again."
This was the song that denoted
the end of the Great
Depression during the FDR administration.
Many Powersports dealers in
our 20-Groups believe we are finally emerging from
the recent Great
Recession.Their financials are definitely beginning to
show a positive turnaround.
So everything's coming up
roses.Right?Maybe not.We still
have deep-discounting competitors.The
government regulations continue to strangle our
access to the Internet is arming them for dealership
worst of all, dealers are unable to either predict
or forecast (with any accuracy) their floor traffic
While these challenges can be
overwhelming, we must not forget the paramount
challenge – the “new” Powersport consumer that has
emerged from that Great
Recession.While many are still suffering, the nation’s
personal savings has risen and the future is
beginning to look brighter.
Despite the pent-up demand
(for our major units and merchandise) and the
accumulated discretionary dollars, today's consumer
is much more deliberate
in making purchasing decisions.Clearly,
they are doing more research and taking their time
to make their decisions.
GE conducted a recent Consumer Study
of Major Purchases.The
following research describes the behavior of the
"new" Powersports consumer:
- 65 days to make a purchase
- 5 retailers involved (3 online and 2 offline)
- 67% decide how to pay before they enter the store to
make their purchase
This isn't all
doom-and-gloom.While price will always be the driving factor
for most, the “new” consumer is willing to pay more
to get what they want.As you know, there are some models that
command full MSRP.Furthermore, accessorizing is definitely on
the rise.Our 20-Club dealers are improving their gross
margins and holding respectable bottom-lines.
While the world is a
different place, maybe happy days are truly here
celebrate and keep the momentum.