vAuto SnapLot 360 Teams Up With Autotrader to Deliver Immersive Vehicle Merchandising and Extend Shopping Radius
OAKBROOK TERRACE, Ill., Oct. 4, 2021 -- vAuto SnapLot 360, a leading auto inventory solution that provides 360-degree imaging, announced today an expanded offering with Autotrader's Market Extension and Market Extension Essential products.
Autotrader's Market Extension and Market Extension Essential products both allow dealers to list their vehicles in markets outside their physical location. Market Extension allows dealers to select markets outside theirs to show their listings; with Market Extension Essential, dealers can expand their radius (250, 500 and 1,000 miles) and their listings will show up in searches where results are limited, according to Autotrader data.
This exclusive offering allows dealers to extend their online listings reach and add transparency to both non-local consumers and those who prefer not to visit the dealership. The collaborative solution delivers exterior and interior 360-degree spin views enhanced by customized hot spotting of key vehicle features.
With Kelley Blue Book reporting inventory shortages and sky-high vehicle prices that are deterring some car shoppers and dampening demand, virtual walkarounds have become popular and show effectiveness at grabbing consumers' attention and boosting intent to buy.
"SnapLot 360 gives our customers a way to interact and connect with our inventory by seeing and experiencing desired vehicle features easily online," said Robert Velez, digital manager at Liberty Auto City in Libertyville, Ill.
360-degree spin images provide a complete view of the vehicle, while also highlighting unique and in-demand features, closely mirroring the experience of visiting a showroom. Research shows immersive imaging can level the playing field between traditional and online-only retailers by creating end-to-end benefits and service. 73% of shoppers surveyed are more likely to consider a vehicle not at a local dealership if it has a 360-degree spin view.1 And 82% believe 360-degree spin images are a necessity when evaluating vehicles online.2
"Dealerships have flocked to Autotrader's Market Extension products as a means of expanding their shopper reach and capturing more sales opportunities and market share overall," said Erin Lomax, VP of operations, Autotrader. "They have been consistent top-performers all year."
"There is a natural synergy between vAuto SnapLot 360 and Autotrader Market Extension and Market Extension Essential offerings. The fully engaging spins provide the information needed to spur increased interest and demand from shoppers outside a dealer's local market," said Nathan Fox, senior director of merchandising solutions for vAuto. "Hot spot tagging specific attributes, such as alloy wheels, touchscreen displays, and engine variants help potential buyers beyond the local market buy with confidence."
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1 Cox Automotive 360 Spin Research 2021 Study
2 Cox Automotive 360 Spin Research 2021 Study
About vAuto (www.vauto.com)
vAuto® provides innovative technology, tools and business intelligence to thousands of dealerships across the United States and Canada, helping them compete more effectively and increase new/used vehicle sales volumes and profits. Founded in 2005, vAuto revolutionized dealers' used vehicle operations with the groundbreaking Provision® suite of tools. Leveraging The Velocity Method of Management®, pioneered by vAuto founder, Dale Pollak, Provision helped dealers adopt a more transparent- and turn-focused approach to used vehicle acquisition, appraising, pricing and merchandising based on real-time, local market supply-and-demand data. In 2018, vAuto released the Provision ProfitTime metric and methodology to help dealers maximize inventory turn and gross profit based on the investment value or profit potential of each vehicle. The same year, the company expanded its integrations with Cox Automotive's HomeNet and acquired iRecon, an online reconditioning workflow platform. The moves extend vAuto's efficiency-focused used vehicle management solutions into vehicle merchandising and reconditioning.
vAuto's solutions also include Conquest, a new vehicle inventory management and pricing system, and Stockwave, which enables dealers to efficiently find and purchase vehicles from leading wholesale sources via a single platform. Headquartered near Chicago, Illinois, vAuto is a Cox Automotive™ brand.
About Autotrader (www.autotrader.com)
Autotrader is the most recognized third-party car listings brand, with the most engaged audience of in-market car shoppers. As the foremost authority on automotive consumer insights and expert in online and mobile marketing, Autotrader makes the car shopping experience easy and fun for today's empowered car shopper looking to find or sell the perfect new, used or Certified Pre-Owned car. Using technology, shopper insights and local market guidance, Autotrader's comprehensive marketing and retailing solutions allow consumers to build their deal online, and guide dealers to personalized digital marketing strategies that grow brand, drive traffic and connect the online and in-store shopping experience. Autotrader is a Cox Automotive™ brand. Cox Automotive is a subsidiary of Cox Enterprises. For more information, please visit http://press.autotrader.com.