TRADER Finds Ontario Dealerships Reporting Increasing Consumer Demand
TRADER Corporation is reporting that a recent third-party study conducted by EQ Works and commissioned by TRADER, that examined foot traffic among 750 Ontario dealerships finds a substantial increase in physical traffic between May and June 2020.
Walk-in data collected during the study revealed a 56 per cent surge in unique visitors and an 81 per cent increase in total dealership visits in June. The tracked Ontario dealerships also experienced a 46 per cent increase in one-time visits, while repeat visits grew by 85 per cent. This influx of consumer shopping demand is reinforced by a record-breaking month of traffic to the autoTRADER.ca marketplace, which reached a milestone of 22 million visits, after a previous record high in May.
“Following a few challenging months surrounding the onset of the COVID-19 pandemic, we are observing promising consumer behaviour data,” said Ian MacDonald, chief marketing officer, TRADER Corporation. “Recent record-setting traffic on autoTRADER.ca coupled with a significant increase in dealership footfall affirms the auto industry’s current movement towards recovery.”
The study also found that both independent and franchise dealerships are benefitting from a sizable lift in consumer engagement. When examining footfall comparatively, the study recorded a 36 per cent increase in visits to independent dealerships, while franchise dealerships experienced a staggering 154 per cent increase in foot traffic.
Additionally, the study findings indicate that 17 per cent of all visits took place on Mondays, making it the busiest day of the week throughout June, with the highest volume of visits recorded between 4:00 p.m. to 7:00 p.m.