CarLotz Unveils First Major Brand Campaign

Rhea-AI Summary

CarLotz (NASDAQ: LOTZ) has launched a major brand campaign to enhance its identity as a leading consignment-to-retail used vehicle marketplace. Initiated on August 2, 2021, the campaign utilizes various media including out-of-home and digital formats, with plans for television and influencer marketing. The campaign aims to reshape perceptions of used cars, promoting a sense of pride in purchasing them. The initiative is part of CarLotz’s mission to deliver superior vehicle buying and selling experiences.

Positive

• Launch of a major brand campaign aimed at increasing market awareness.
• Unique consignment model positions CarLotz as a disruptor in the used-car market.
• Campaign emphasizes customer experience and pride in buying used vehicles.

Negative

• None.

Company urges guests to “take pride in getting used” … Used Cars that is!

RICHMOND, Va., Aug. 19, 2021 (GLOBE NEWSWIRE) -- CarLotz (NASDAQ: LOTZ), the nation’s largest consignment-to-retail used vehicle marketplace, announced today it has launched its first major brand campaign. Inspired by the company’s own values and mission to create the world’s best vehicle buying and selling experience, the campaign is designed to increase brand awareness and introduce people to the world’s smartest way of buying and selling used cars, through its unique consignment model. The campaign launched the week of August 2nd with out-of-home, radio and digital. Television, additional video content, sponsorships, local activations, influencer marketing and in-hub displays will follow in the coming weeks.

CarLotz was created as a peer-to-peer marketplace and a disruptor in the used-car category by virtue of its one-of-a-kind consignment model. “This campaign is all about flipping the script on what it means to buy used. We want to turn ‘used car’ into a badge you wear with pride,” said Michael Chapman, Chief Marketing Officer of CarLotz. “This work is a direct reflection of the pride our employees and our guests feel working with CarLotz. There is something special about the people who buy and sell at CarLotz. They know the true value of getting used and they love it,” he continued. “At the end of the day our job is to plant a flag in the category, continue to put the value back in the hands of buyers and sellers and remind people that, ‘it feels good to be a used car person’.” Richmond-based Arts & Letters developed the strategy and oversaw creative responsibilities for the campaign that will run across major DMAs including Atlanta, Charlotte, Chicago, Dallas, Denver, Nashville, Orlando, Richmond, San Antonio, Seattle, St. Louis, and Tampa.

“From the ground up, CarLotz is a company built around putting people first,” said Andy Grayson, Director of Strategy at Arts & Letters Creative Co. “So, when we looked at the category and saw that everyone else was focused on their process, we knew the right thing to do was to make the strategy all about people and the pride they feel buying used from CarLotz.” Noble People is overseeing the media planning and buying, and Familiar Creatures is responsible for the social.

“Arts & Letters came up with a strategy and creative platform built on a unique truth,” said Chapman. “I love that they, along with our other agency partners, were able to execute the strategy with humor and deliver a creative direction that changes the conversation from process to the feeling of pride and focuses on all the positives of buying and selling at CarLotz.”

Examples of the work can be found here.

For additional information, visit carlotz.com.

About CarLotz

CarLotz is a used vehicle consignment and Retail Remarketing™ business that provides our corporate vehicle sourcing partners and retail sellers of used vehicles with the ability to access the previously unavailable retail sales channel, while simultaneously providing buyers with prices that are, on average, below those of traditional dealerships. Our mission is to create the world’s greatest vehicle buying and selling experience. We operate a technology-enabled buying, sourcing, and selling model that offers a seamless omnichannel experience and comprehensive selection of vehicles, while allowing for a fully contactless end-to-end e-commerce interface that enables no-hassle buying and selling.

Our proprietary Retail Remarketing™ technology provides our corporate vehicle sourcing partners with real-time performance metrics and data analytics, along with custom business intelligence reporting that enables price and vehicle triage optimization between the wholesale and retail channels. Through our marketplace model, we generate significant value for both sellers and buyers through price, selection, and experience.

CONTACTS:
Media Inquiries
CarLotzPR@icrinc.com   
leslie.griles@carlotz.com

Analyst Inquiries
CarLotzIR@icrinc.com 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c15f4021-e6bc-4100-829d-02f43dac2cf4

FAQ

What is the new brand campaign launched by CarLotz (LOTZ)?

CarLotz launched a major brand campaign on August 2, 2021, to enhance brand awareness and promote its unique consignment model in the used vehicle marketplace.

When did CarLotz initiate its brand campaign?

The brand campaign by CarLotz began the week of August 2, 2021.

What marketing strategies are being used in CarLotz's campaign?

The campaign includes out-of-home advertising, radio, digital platforms, and will expand to television, influencer marketing, and local activations.

How does CarLotz position itself in the used car market?

CarLotz positions itself as a disruptor in the used car market through its unique consignment model, focusing on delivering a customer-centric buying and selling experience.

What are the goals of CarLotz's brand campaign?

The goals are to increase brand awareness and encourage a sense of pride in purchasing used cars through their consignment model.