Are Women Purchasers An Untapped Opportunity For Dealerships?

👉 The shift in the car buying experience
👉 Why the female car buying experience must improve
👉 What dealerships can do to engage female buyers
👉 Building trust with female customers
👉 What Marsh Finance is doing
👉 Looking forward

The automotive industry is undergoing a huge shift, one that savvy dealers cannot afford to overlook.

As you know, historically, the majority of car purchasers have been male. But the tide is turning. By 2030, women could become the dominant drivers on the road and, more importantly for dealerships, the majority car buyers.

As a car finance lender, we’ve been closely observing this trend. Although the majority of our consumer base remains male, we believe that dealerships must now adopt strategies to better engage female buyers. This blog is not only a call to action but also a commitment to practice what we preach.

The Shift In The Car Buying Landscape

Traditionally, men have been the primary decision-makers when it comes to car purchases. But women have always played a significant, though often overlooked, role in influencing these decisions.

However, recent data paints a different picture. According to the Department for Transport (DfT), the number of licensed cars registered to women has increased by 16% over the past decade, compared to just a 10% increase for men. Furthermore, nearly 48% of all driving licenses in the UK are now owned by women, a figure that is only set to grow.

As more women become financially independent and take on leadership roles, their purchasing power is growing. This represents a huge opportunity for car dealerships to expand their customer base and create a better buying experience for female customers.

Why The Female Car Buying Experience Must Improve

Despite these promising trends, many women report negative experiences when buying a car. From feeling ignored or patronised in showrooms to encountering overly technical jargon, the automotive industry has not always been welcoming to female buyers. Research has shown that women are often more "risk-aware" when making purchasing decisions, meaning that they are likely to be more cautious and thorough in their approach.

Despite women becoming increasingly influential in the car-buying market, many still have reservations about electric vehicles (EVs). Concerns about cost, maintenance, and range anxiety are more prevalent among women than men.

Dealerships need to address these concerns and provide clear, transparent information about EVs to attract more female customers. By offering informative resources, test drives, and personalised guidance, dealerships can help women feel more confident about making the switch to electric.

Remember: A positive and informative car-buying experience can go a long way in building customer loyalty and attracting new female customers.

What Dealerships Can Do To Engage Female Buyers

Dealers who want to take advantage this growing market must take proactive steps to make their showrooms, marketing, and services more welcoming to women. Here are a few practical steps:

Tailored Marketing Campaigns

Dealerships should develop marketing campaigns that specifically target female buyers. This could include A/B testing different messages, colours, and formats to determine what resonates most with this audience. For instance, women tend to place a greater emphasis on aesthetic details like colour, comfort, and practicality—factors that have traditionally been downplayed in car advertising.

Create A More Inclusive Showroom Environment

The atmosphere in a car dealership can greatly influence the buying experience. To attract more female customers, dealerships should consider the following:

1. Create a welcoming environment: Use softer furnishings, create kid-friendly areas, and avoid a rigid, formal atmosphere.
2. Hire female sales representatives: Having more female sales representatives can make female customers feel more comfortable and understood.
3. Use less aggressive sales tactics: Focus on providing helpful information and building relationships with customers.

By creating a more inclusive and welcoming environment, dealerships can attract and retain more female customers.

Education Around EVs

As the world moves towards electric vehicles (EVs), dealerships should provide educational resources to help women feel more confident about making the switch. Women are practical consumers who prioritise safety and sustainability.

Here's how dealerships can help women make the transition to EVs:

• Offer test drives: Allow women to experience an EV firsthand.
• Provide hands-on learning: Offer workshops or training sessions on EV features and technology.
• Explain cost and maintenance benefits: Clearly communicate the long-term savings and environmental benefits of owning an EV.

By addressing women's concerns and providing valuable information, dealerships can encourage more women to consider EVs as their next vehicle.

Building Trust With Female Customers

Trust is essential in the car-buying process, especially for women. To build trust with female customers, dealerships should:

• Offer transparent financing options: Clearly explain financing terms and options.
• Use straightforward language: Avoid jargon and technical terms that may confuse customers.
• Communicate in a non-patronising manner: Treat all customers with respect and avoid making assumptions.

What Marsh Finance Is Doing

At Marsh Finance, we’re actively working to create a more inclusive and supportive environment for female car buyers. We understand that finance options can sometimes seem daunting or complicated, which is why we're committed to simplifying our communication. By offering transparent and flexible finance solutions, we're empowering all buyers—men and women alike—to make informed decisions.

Looking Forward

The rise of women as primary car purchasers is not just a passing trend—it’s a long-term shift that will redefine the car-buying landscape. Dealerships that recognise and adapt to this change will be well-positioned to thrive in the future. As a car finance lender, Marsh Finance is committed to supporting dealerships as they evolve to meet the needs of this growing customer base. By taking actionable steps today, we can ensure that women have a positive and empowering experience when purchasing their next vehicle.

Is your dealership ready for the new majority of car buyers? If not, now is the time to start making changes.

At Marsh Finance, we’re here to support you in creating a more inclusive car-buying experience. By offering transparent, flexible finance solutions and a deep understanding of this emerging market, we can help your dealership thrive.

Partner with Marsh Finance today and ensure your dealership is ready to tap into this untapped opportunity. Let's work together to provide female customers with the exceptional experience they deserve.