Published on February 3rd, 2021 | by Subhash Nair0
Lexus USA Create New Online Retail Platform Called Monogram
Could the Monogram online car shopping experience become a part of the Lexus Global brand strategy?
Although we live in a highly digitalised and connected society, some parts of the economy still haven’t quite caught up with the times. One place that definitely could use a little more work is the online showroom. To this day, few companies can offer an exceptional sales experience through the web. But on the bright side, the pandemic has shown car companies just how important this aspect is, and they’ve all moved in the right direction. One such company who have now ‘seen the light’ is Lexus. In the USA, Lexus have just shown their new online retail experience, known as Monogram.
Lexus developed Monogram hand-in-hand with their dealer network across the United States. Monogram is a comprehensive retail programme that aims to put more control in the hands of Lexus customers looking to purchase their vehicles. Rather than being a typical static online store, Monogram creates a more transparent environment for shoppers, giving them information on current inventory and real-time pricing.
The advantage of this is that customers can come to better decisions, depending on what their preferences are. A customer might start up the Monogram app thinking they wanted a base model Lexus ES in silver, only to find the mid-spec model in white has a shorter waiting time and has its price slashed. If they’re happy with that deal, they can easily reconsider their decision without needing to be convinced by a salesperson.
Lexus USA are also integrating Lexus Financial Services into the Monogram app. This will allow customers more flexibility when purchasing vehicles. What’s more, the app saves the customer’s progress in building their ‘digital garage’, so they can pick up where they left off should a sale not be closed in one sitting.
Monogram will be progressively rolled out throughout 2021. Here’s the press release with more.
Lexus has officially unveiled the Monogram retail experience, providing guests flexibility in how they buy their next Lexus. Working hand-in-hand with dealerships across the United States to integrate the online and in-store retail experience, Lexus is piloting a comprehensive retail program providing guests more control over how they purchase their vehicle, increased transparency into current inventory and real-time pricing, and flexibility to shop when and how they want.
Developed in partnership with Toyota Motor North America (TMNA) and Lexus Financial Services (LFS) in response to shifting consumer purchase preferences, Monogram offers a flexible shopping experience befitting the Lexus brand.
Lexus’ Monogram technology puts the car buying process in the hands of the guest, providing an integrated user experience across Lexus.com, the dealership website and the physical dealership store. Customers can choose the path that works best for them by starting their journey online, saving their progress in the “digital garage” to pick up where they left off at the dealer, or completing their purchase at home or at their Monogram dealer.
For Lexus dealerships, the new technology integrates with current inventory, the customer relationship management system (CRM) and directly with financing through LFS, allowing sales associates the opportunity to better understand customers wants and needs, while accessing time-saving tools, enhanced analytics and advanced lead handling that allows the dealer to pick up right where the guest left off online.
Monogram is currently being piloted in select markets with plans to aggressively accelerate availability through 2021. An all-new Monogram complete online experience, which expands to allow customers the ability to complete their purchase online, will roll out market by market starting in Spring 2021.
The new online retail experience is also available to Toyota customers through Toyota SmartPath.