Consumer insights and key trends for 2024
This article was written by Jennifer Green-Neff and orginally appeared in the December edition of Powersports Business.
As the year winds down, there are still plenty of motorcycle sales opportunities that we can tap into. With the end of the year in sight, it’s important to remember that every sale counts and can contribute to a robust finish. Fortunately, 2024 has provided us with vault data to leverage for valuable insights. This data can be instrumental in not only helping dealers finish this year strong but also in setting the stage for a successful start to the next one.
Let’s take a closer look at the roadmap of consumer data collected to understand how the market has fared throughout the year and where it currently stands. By analyzing trends, preferences and buying behaviors from Cycle Trader buyers through 2024, we can identify key opportunities that will allow us to capitalize on the remaining months.
Overall, the top brands that consumers prefer remained consistent throughout the year, as reflected in both search results page impressions and vehicle detail views on the Cycle Trader marketplace. The leading brands consistently included Harley-Davidson, Honda, Kawasaki, Yamaha and BMW. This consistency indicates that consumers are not only actively searching in the market but also demonstrating strong brand loyalty.
Capitalizing on this brand loyalty can help build lasting relationships with customers who are likely to purchase soon or as we move toward the year’s end. By aligning your marketing strategies and promotions with these preferred makes, you can attract more engaged buyers and enhance your sales efforts.
In 2024, Harley-Davidson Street Glide, Harley-Davidson Road Glide, Honda Gold Wing, Yamaha-YZF and Harley-Davidson Electra Glide ranked as the top viewed models on the Cycle Trader marketplace. Notably, the Road Glide had the highest vehicle detail page views. We also observed that while the CRF ranked top five for searches, it didn’t place in the top viewed models.
There are several potential reasons for these variations, including how effectively each unit is merchandised, search engine optimization (SEO) practices, inventory levels and the use of advertising enhancements.
As a dealer, focusing on the merchandising strategies for these top models can significantly impact visibility and engagement. Ensure that your inventory is wellstocked with these trending models and optimize your listings to improve SEO. By utilizing targeted advertising enhancements, you can attract more potential buyers and maximize your sales opportunities in the coming months.
As we wrap up our review of 2024, it’s clear that the consistent performance of top brands and models not only reflects consumer preferences but also highlights the significance of brand loyalty in the motorcycle market. By harnessing the insights gained from search results and vehicle detail page views, dealers can make strategic decisions that not only boost sales but also strengthen customer relationships. Looking ahead, prioritizing effective marketing, optimizing listings and leveraging targeted advertising will be crucial in capturing the interest of engaged buyers. Jennifer Green-Neff is the VP of brand marketing for Trader Interactive. By understanding consumer needs and market trends, she strategically teams up with dealers to ensure they connect with consumers searching for their dream vehicles
