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How Accessory Sales Can Provide a Profitable Add-on..

How Accessory Sales Can Provide a Profitable Add-on.. July 20, 2015 by Ian Wright

During a recent visit to the Middle East, I came across this showroom developed exclusively for selling accessories.
Whilst it is aimed very squarely at their unique market place - four-wheel drive vehicles are very popular and the culture for modifying vehicles and improving off-road performance is common - it did make think about how well other markets present and sell accessories, particularly on used vehicles.
In my experience, accessory sales are largely overlooked by the majority of retailers.  Often the complexity of ordering the parts required coupled with booking the workshop time to fit them prevents sales people from confidently offering them at the point of sale.  Other inhibiting factors can be an inherent fear of disappointing the customer should the parts not arrive on time or misquoting prices due to separate costs for parts and fitting.  If any of this sounds familiar to you, maybe you should revisit your accessory sales catalogues and methodology for both pricing and sales incentives.  This dealer has and is reaping the rewards now!
Having vehicles displayed with accessories fitted is of course fundamental to selling them, as is having demonstration vehicles equipped with the most common accessories – allowing customers to experience them and visualize them first hand.  As well as demonstrating accessories, it is important for your sales teams to promote them; demonstrating the quality of the items fitted, explaining the benefits and of course majoring on the fact that the customer can “tailor” their vehicle to their individual needs.  These principals apply to both new and especially used cars.
Substantial incremental profit is available if you get this process right and in the case of used cars; some well-chosen distinctive accessories can lift and add value to vehicles of the same model, age, colour and specification (buy-back deals etc) and ageing stocks, raising their appeal and increasing both profit and stock turn.   
Want to know more?  Contact the team at PEP Business School.

 

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