A powersports dealer’s guide to holiday sales

By Susan Medrano, senior vice president and general manager of Synchrony Outdoor

It’s that time of the year again. The holiday season is here, and it’s off to a fast start. According to an Adobe Analytics report, online spending on Cyber Monday was $13.3 billion, up 7.3% over 2023. For powersports dealerships, this month represents a prime opportunity to engage customers eager to shop for the perfect gift for the powersport enthusiast in their life.

Whether it’s a cutting-edge helmet, upgraded aftermarket parts, a UTV tool kit, a mountable phone charger, or a 4-point safety harness, the season will offer deals on a great selection of new gear. But for many, the excitement may be dampened by rising costs. That’s because even the best deals require consumers to make tough buying decisions as they balance passion with affordability.

Powersports dealers can help them by providing financing solutions, which take the sting out of holiday purchases and enable shoppers to turn wish lists into reality. Here are some strategies to help dealerships bring shoppers extra holiday cheer this season.

Put financing upfront

Everything from gas and groceries to powersports gear is substantially more expensive than it was a few years ago. The U.S. Bureau of Labor Statistics reports that prices for recreation products, including vehicles, have risen 6% over the past year, which is putting further strain on consumers who are laser-focused on affordability more than anything else.

With that in mind, dealerships are wise to advertise financing options prominently both in the dealership and online so they are among the first things shoppers see. In addition, they should include financing benefits on signage near high-value items (or on the price tag) like motorcycles, ATVs, and performance parts. And work with the sales team to ensure these options are interjected into every conversation with customers to show how financing can transform what may seem like an unattainable purchase into something manageable.

Tailor the experience

With consumers scrutinizing purchases like never before, retailers must help guide them to precisely what they need, whether they are shopping in the dealership or online. For dealers, this means encouraging your sales team to engage each customer and help them identify precisely what they are looking for. Are they interested in gear for a powersports beginner or hoping to upgrade their safety equipment? Perhaps they want to purchase the hot new accessory for a seasoned rider. By proactively offering tailored recommendations and flexible financing options, dealers help the hesitant customer leave the dealership feeling more confident in their purchases.

Reduce inventory

It’s no secret that dealers today have high inventories, and the holiday season is THE best time to move items from the warehouse into customers’ hands. For dealerships, the key is to offer great deals. Look no further than Black Friday and Cyber Monday, when shoppers sought out and gobbled up the best deals they could find.

So, whether it’s powersports vehicles or accessories (think helmets, gloves, jackets, etc.) and anything in between, those dealers offering the best sales and unique promotions (e.g., Buy one helmet, get a free pair of gloves) will be the ones turning their access inventory into increased revenues over the weeks ahead.

Think digital

As Cyber Monday taught us once again, online shopping remains a dominant force. Consumers are spending more and more time researching and shopping online, and powersports dealers must ensure their websites are optimized for browsing and purchasing.

This means highlighting deals on the top-selling holiday and overstocked items on the main page. Often, these details are buried, appearing at the final step of the purchase process. At this point in the buyer’s journey, it is unlikely that they will go back and rethink their purchases.

This is why shoppers must see relevant details immediately. In fact, include these financing details right next to the price and product description where appropriate. The next big question will be whether the item is in stock. This is why it’s critical that dealerships link inventory to availability to let customers know the items are in stock. The latter is key for those hoping to buy online and pick it up at the dealership.

At this point, the customer knows what they want to buy and is assured that it is in stock and that financing is available. Now, it’s imperative that the dealership offer a quick and easy online financing application process that can be approved in minutes. Easing this final step will provide further encouragement to shoppers making these purchases.

Bundle and upsell

For the price-conscious consumer, bundling is a great way to offer more value. Dealers can offer discounts on essential gear when a customer purchases a new dirt bike or ATV or a free pair of gloves with the purchase of a new helmet.

The bottom line is that bundling complementary items adds value and results in customers spending more. Evidence also suggests it can help drive increased loyalty. And, when combined with financing, these bundled packages become even more appealing because costs are divided into manageable monthly payments.

Why financing is essential

Despite current economic challenges, the holiday season remains a time of opportunity for powersports dealers. This year, as dealerships turn their dealerships into holiday destinations, the most successful ones will offer a comprehensive experience: connecting consumers with the right items — either online or in the dealership — while providing them with financing options such as those offered by Synchrony that can help make purchases affordable.