TopLine Business Acumen Early Advance July 10, 2022 edition
This week’s most engaging stories
TopLine’s Business Acumen Series features business trends and opportunities to help sales professionals prospect and engage clients. It’s updated several times daily within TopLine. This early advance features some of the coming week’s top stories.
How to Sell to Gen Z Car Shoppers
According to CDK Global, Gen Z car shoppers want to take their time and learn during their car buying experience. 81% of surveyed Gen Z car shoppers plan to take their time to understand their options when shopping for a vehicle, and 56% of Gen Z car shoppers say they’re buying their first car. 16% of Gen Z shoppers say they’d like expert guidance when buying a car versus 12% of Millennials, 8% of Gen X, and 4% of Boomers. Gen Z car shoppers say their biggest issues when buying a car are fees and waiting on salespeople and F&I departments.
How are Gen Z car shoppers different from their older counterparts? What are the best ways to reach them? How can changing up the sales approach endear dealerships to Gen Z shoppers?
Latest Resources from TopLine
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Dress Sales are Making a Comeback
According to the NPD Group, sales for women’s dresses increased 42% from January to May.
“Dresses are making a strong comeback, after being one of the most hard-hit areas of the apparel market when the pandemic began,” said Maria Rugolo, an apparel industry analyst at NPD. “The trend today is on both sides of the spectrum: the casual and the ultra-dressy.”
Roughly one in three are buying dresses for a special occasion or evening.
How can you help retailers promote their dress selection?
Social Anxiety Can Accompany Return to In-Person Interactions
While the pandemic’s various challenges produced a healthy list of mental stressors, the “return” to social interactions can bring its own anxieties for many individuals.
A recent Wall Street Journal report notes the possibility for a “spotlight effect,” the fear of rejection that accompanies social interactions, to influence many individuals’ anxieties and doubts.
Do you know any mental health services or professionals in your area? Can you help them reach individuals prone to social and related anxiety?
Home Prices Could Start to Fall Soon, According to Analysis
While home prices have been soaring as of late, CoreLogic predicts that there are more than 70% odds in favor of home prices dropping in five specific cities over the next year. The analysis looked at around 400 cities in the U.S. to determine which could see housing bubbles pop. The top five contenders were clustered in the Pacific Northwest:
- Bremerton-Silverdale, Washington
- Bellingham, Washington
- Boise, Idaho
- Tacoma-Lakewood, Washington
- Olympia-Tumwater, Washington
With the bubble possibly popping in some cities, the housing market is starting to get more friendly. For example, this June housing inventory grew by 18.7% from last June due to lower demand. Now could be the time to start looking for a new home again if you’re ready to buy.
Do you know any real estate agents? How can they help buyers take advantage of a potential buyer’s market?