Price is a main factor in the decision-making process for consumers looking to purchase a new vehicle, according to a recent report by Freckle IoT.
In its “Path to Purchase” study, Freckle also reveals that buyers of new vehicles will begin their journey three months prior to purchase. They will visit three to four dealerships during the sales cycle. And they will depend on a variety of media channels when researching the vehicle.
“Our data clearly illustrates that consumers want to connect with brands both online and offline,” said Neil Sweeney, Founder and CEO, Freckle IoT and Killi. The results of the report indicate that car dealers should take a multimedia approach to advertising.
The study also found that only 40 per cent of consumers are influenced by online advertising, and 30 per cent are dependent on the OEM’s website when researching their next vehicle.
The data in the study was pulled from more than 3,000 auto dealerships in Canada. Furthermore, 8,000 surveys were sent to automotive customers to help Freckle pinpoint what their shopping preferences are within the Canadian market.
The report is available for download here.
