On a retail drive for used 2 wheelers
By Swaminathan Balasubramanian | Retail4Growth Team | December 05, 2019
In an exclusive chat with Retail4Growth, Rishi R Mehta - Category Head, Franchise Vitasta Kaul - AVP, Brand and Retail Marketing of CredR speak about how their business model is revolutionizing the two-wheeler industry.
Started as an eCommerce brand, CredR is now the largest retailer of organised used two wheelers in India. With a presence in 5 cities and 35+ flagship showrooms, CredR plans to scale up to 200 showrooms by the end of this fiscal year. The company is currently working with all leading Indian two-wheeler manufacturers as a trusted exchange partner. These include names like Hero, Honda, TVS, Suzuki, Bajaj, Yamaha, Royal Enfield and more. Unique offerings such as comprehensive 6 Months Warranty, 7 Day Buy Protect, detailed inspection on 120+ quality checkpoints and enhanced customer experience, are some of the value adds that the company offers. In an exclusive chat with Retail4Growth, Rishi R Mehta - Category Head, Franchise Vitasta Kaul - AVP, Brand and Retail Marketing, speak about how their business model is revolutionizing the two-wheeler industry.
How does a used two-wheeler purchase happen in a retail showroom? When a customer comes with an idea to purchase a vehicle, what are the factors that convert to a sale?
Generally, when a consumer walks in to purchase a used two-wheeler, he has a certain budget defined in his mind. This however is generally elastic and not cast in stone. Usually, consumers don’t mind stretching their budget slightly if a superior product is offered, and this is where CredR plays a key role, in offering the consumers a product that is superior to what is available in the market.
Our unique offerings like quality two-wheelers with detailed inspection and refurbishment, post-sales services like free 6 months warranty, assistance with paper transfer process, free 7-day buy protect service, etc., add more value to the customer experience. Also, the trust factor matters a lot. In a market devoid of trust, where bike thefts and forgery cases are routinely reported, CredR assures genuine sellers and lists only legally verified two-wheelers with authentic documentation.
While in other industries, there are multi-branded outlets, why is it not the case in in the auto industry?
In simple words, brand affiliation. A single-brand outlet is akin to purchasing from a company outlet for the customer. On the other hand, a multi-brand outlet is generally viewed as more of a shop mean to purchase the goods on offer. Given the highticket nature of most automobiles purchase, this sentiment is seen as playing a key role.
Do you think if auto retailers offer more options for a customer in the same category, the retailing experience would be better?
Yes, most definitely. Providing consumers with a wide range of two-wheelers to choose from enhances the customer experience. This is one of the key reasons why top car manufacturers in India have consistently done well over the years.
Read the full interview in the November 2019 edition of Point-of-Purchase magazine.
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