MACQUARIE has joined the growing list of companies turning to experiential retail to lure new customers, by opening a new Australian-first multi-brand car buying retail store in Westfield Hornsby.
MotoMe by Macquarie is tailored to suit evolving buyer preferences, including ease of comparison and fewer buyer hours spent on dealership floors.
Macquarie Leasing head Jon Moodie said car-buying is evolving, with consumers now spending less time visiting dealerships and more time researching their purchase beforehand.
“We know the internet has changed the way people shop and is making consumers significantly better-informed about their options and preferences before they make a purchase. The task of online research can be even more time-consuming due to the need to visit numerous manufacturer and dealer websites.
“The latest findings show that Australians invest over 12 hours comparing cars online before first entering a dealership.
“The MotoMe by Macquarie store will bring together digital, social and physical experiences, with multiple brands of cars on display on a rotational basis. A range of experts will be on hand to assist consumers, including car specialists and finance staff,” he added.
Research commissioned by Macquarie found that 80% of respondents would be very likely or quite likely to visit a store like this in a retail environment.
Macquarie’s research also found that there was a tendency among respondents to consider finance late in the car-buying journey, making it more challenging to determine what fits within their budget from the outset. With 75% of respondents saying they would be likely to consider pre-arranging car finance, the MotoMe store allows consumers to real-time research their options for financing the vehicle of their choice.
A consumer-driven experience, the store is also set to showcase technology that is new to Australia – the Converge platform – which is a kinetic retail display that allows consumers to explore, compare and configure cars using reviews and expanded content. The platform will enable consumers to transfer information to their mobile device to take home for further consideration.
“With MotoMe by Macquarie we’ve brought together our digital offering, which showcases all brands in one place and can recommend certain models for a consumer’s lifestyle and budget, with the ability to see a range of brands and models in store. This is the first time in Australia that this type of experience has been delivered in a shopping centre environment.” Moodie said.
Fiat Chrysler Australia will provide the first three cars displayed in the store – the Fiat 500, Alfa Giulia Veloce and Alfa Stelvio Ti.
Australian Property Journal