With widespread supply chain issues and facing shoppers this holiday season, consumers are turning to local marketplace solutions this year more than ever. In anticipation of delays or lack of inventory, customers are also getting an earlier start on holiday shopping. Dealers facing a traditionally slower season can use OfferUp and these recent trends to their advantage when it comes to their advertising efforts.
The reality:
The secondhand online retail market is projected to top $65 billion this year
3 in 4 people said they would buy resale this holiday season
50% of holiday shoppers will start looking to purchase before November
“Out of Stock” messages on traditional retail websites are up 172% compared to this time last year
How OfferUp can help:
Increased visibility for your business: With significantly more traffic on local marketplace apps, comes more potential buyers. OfferUp offers the additional advantage of being a horizontal marketplace. This means, while holiday shoppers are browsing for gifts, your inventory will be advertised and visible for customers also in the market for a vehicle. Take advantage of the increased exposure this holiday season so that people remember you and your local dealership with tax season around the corner.
Optimize advertising to source inventory: If your main concern this season is building up inventory for the new year, update your vehicle listings to highlight your willingness to accept trade-ins. 1 in 2 OfferUp customers are both a buyer and seller, so it is likely many of the leads that reach out have a trade-in.
Re-engage previous customers or cold leads: As holiday shoppers are getting an earlier start than normal, it is important to stay top of mind with customers that may have interacted with you early on. Utilize your CRM or list of leads that provide contact information to follow up with potential or even former customers. Call or re-message these customers to proactively highlight any holiday specials, promotions or new services you are offering. Ensure any promotions are also highlighted in your listings and dealer profile to draw interest from additional potential customers.
References:
https://www.adweek.com/partner-articles/how-can-brands-and-retailers-prepare-for-the-2021-holiday-season/
https://digitalairstrike.com/holiday-ad-strategies-to-crush-q4/
https://nrf.com/topics/holiday-and-seasonal-trends/winter-holidays
https://www.bloomberg.com/news/articles/2021-10-23/supply-chain-woes-give-boost-to-65-billion-online-resale-market