Did you know that 80-95% of all car buying decisions are made by women? That means almost every sales pitch you make, at the end of the day, is decided upon by a woman. Leaving women on the sidelines when it comes to how your company conducts its business, is a strategic oversight. Letting the ‘cars are for men’ mentality dictate how you sell and who you think you’re selling to, only means you’re missing out on the untapped potential of a huge female customer base. You’ll likely sell more units, more frequently by having a female-friendly inventory and environment that encompasses the wants and needs of female consumers.
How do I use this to sell more cars, you ask?
Men are more statistically drawn to features like interior layout, exterior design, technology and good old ruggedness. Women often see value in features such as durability, reliability, safety and affordability, so showcasing vehicles in your inventory that match this feature set can make all the difference when getting more female customers into your dealership and converting them into buyers.
Not only are there more licensed female drivers in Canada compared to men, but they also are highly influential in their partners’ purchasing decisions, particularly with family-owned vehicles.
But this is about more than just inventory. Having a sales team that isn’t male-dominated and treats your female leads with equality, is the next step to getting on the same page as female consumers. The Global Leadership Forecast Study 2018 reported that companies with increased gender diversity and female representation are 1.4 times more likely to have sustained profitable growth. This coupled with the fact that females only represent about 20% of dealership employees is a huge problem.
The point is that growing as a company means challenging and changing outdated ideas that don’t promote an inclusive environment for all employees and customers. Being an advocate for change will have a positive impact, not only on your future profit margins, but also for the future of society in general - a future we should all be working towards.