Lexus Looks to Begin Experimental Modern Pricing System in 2016
There was a time, of course, when almost anything for sale was subject to a little ‘wheel and deal’, a time when haggling was an expected part of the buying process in almost any industry. But these days, the shifting dynamics of the information age have come to bear on every part of the consumer marketplace, and the idea of shopping just isn’t what it used to be. When consumers can compare prices and deals from around the globe at the touch of a button, haggling takes on an almost abstract role in the new market. Whereas shoppers used to rely on firsthand experience for knowledge of costs, more information in the hands of consumers today on things like manufacturing costs, logistics, and an army of competitive offers, ultimately means less reason to bother with the kind of conversational bargaining that relies on a certain amount of opaqueness.
This idea, which is supported by a number of studies conducted by dealers and auto industry analysts recently, is one that’s proving to be particularly applicable to the newest generations of car buyers. While the automotive sector has remained one of haggling’s final outposts in American industry, auto makers are now finding that transformative changes in the flow of information have made it so that many Millennials and younger buyers in general are shying away from face-to-face discussions about price in favor of comparing the multitude of data that modern technology makes available.
Taking this to heart, Lexus is putting some plans into motion to offer a new buying atmosphere to its younger customers, one that will allow them to focus more on independent comparison shopping as opposed to personal conversations about pricing. Beginning with a focused effort at twelve select dealerships next year, Lexus will test out a new, streamlined ‘no-negotiation’ pricing program to see how taking some of the traditional steps out of the buying process may help to better draw and accommodate younger customers. The company is hoping that an investment in smoothing the buying process to better flow with the pace of information in the digital age will ultimately drive the pace of sales up, and set a new standard for modern car-buying.
It’s no question that the shopping experience is changing across the globe as people become better informed and better equipped to learn more on their own in general about what it is they’re looking for. While some attempts at similar concepts like ‘upfront pricing’ have come and gone in the past, Lexus plans to bring an unparalleled level of consideration and awareness into the process of attempting to make buying a car a truly modern experience. There are definitely plenty of surprises and details yet to come on these innovative new plans, and you can plan to stay updated on all of the progress and unique Lexus finance services right here at your own Lexus of Highland Park.
We’re certainly eager to see how things shape up!