Trader Interactive, a digital online advertising and marketing services company, recently introduced a new RV Trader Pricing Tools package that can save RV dealers hours of research when selling vehicles.
The company hosts the TraderTraxx app, a platform for managing inventory, leads and dealer profiles. The app is provided to dealers who list inventory on RV Trader.
Over the past year, the company developed a section of TraderTraxx called Trader Intelligence with interactive tools, or reports, to give dealers additional insight into inventory details and to help them sell more RVs, said Jason Groesser, Trader Interactive head of analytics and data strategy. The RV Trader Pricing Tools are the newest part of that initiative.
“In talking with dealers, our team found that many dealers were already using RV Trader’s Marketplace but had to do so in a very manual way,” Groesser said. “Dealers would search for the types of units specific to their area and then go through listings one at a time to find those that were similar. Beyond that, there was no other efficient way to conduct this type of research in the RV space. That is why we are so excited to bring a tool like this to our dealers.”
The new tool package provides average competitive vehicle pricing by Direct Market Access (DMA) in a single view. According to Trader Interactive, using the tools expedites marketplace listing pricing decisions, used vehicle purchases and trade-ins.
Separately, the new tools are called the On-Lot Analysis Tool and the Off-Lot Lookup Tool.
The On-Lot Analysis Tool deals with specific inventory and gives dealers insight into pricing and relative demand. It displays an unfiltered list of the dealer’s total inventory on supported Trader Interactive marketplaces. It has drill-down capabilities to compare competitors’ listing prices on individual RVs by DMA, state and national averages.
Built into the tool is a scarcity rating showing market demand for a particular RV. Market demand can affect pricing. A price-to-market index rating offers a quick view of how the unit compares with the average market price.
According to Groesser, the scarcity rating is an ideal place for dealers to begin their research and learn initial information about an RV they are receiving on their lot. This helps dealers to begin making decisions around pricing. The tool can help a dealer triangulate where they want to be priced, he said.
The Off-Lot-Lookup Tool simplifies pricing decisions on purchases or trade-ins of used vehicles for dealerships that advertise on RV Trader. This tool provides access to the competitive pricing of matching RVs in the dealer’s DMA. Dealers can filter the information by price range, class, condition, year, and state as well as make, model and trim. This can aid in determining how much dealers should pay to acquire particular used RVs, Groesser said.
The RV Trader Pricing Tools package uses current pricing data available exclusively from Trader Interactive databases.
The tools can be purchased as a bundle or separately for a monthly subscription fee.