Elsewhere in this blog, I've discussed the increasing propensity to repair instead of replace belongings, when doing so is an economical option. And here’s more evidence that “new” is getting old for many consumers: A story in last Sunday’s Minneapolis Star Tribune spoke of the success many used car dealerships are having right now. It is worth a read if you manufacture or sell any kind of durable goods.
Implications: If you sell durable goods, your biggest competitor may be the product you sold last year. “We can get by with the one we have now” might just be the most important thoughts and words—objections—you can teach your sales force to deal with in the near term.
Further, for as long as “pre-owned” or “now owned” demonstrates such gravitational pull, the front-end purchase experience and follow-up service and support you offer will be crucial. If the consumer sees little experiential distinction or value advantage between buying old on Craig’s List or buying new from you… cheap will carry the day.
Mike Anderson
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