A recent survey has revealed that car buyers not only spend 60 per cent of their time online, but that more than three quarters of them also use third-party websites like Autotrader and Kelley Blue Book, according to a study commissioned by Cox Automotive through IHS Markit.
The data in the survey, which is based on more than 2,000 recent car buyers, further points to the importance for dealers to connect with today’s consumers online — as early in their journey as possible — if they want to have a greater influence and chance of converting them. Improving the in-store experience has also been flagged as a necessity to meeting changing consumer expectations.
“While this study reaffirms the directive that dealers need to reach consumers online as early as possible in their car buying journey, they should not overlook the need to enhance their in-store experience, which ultimately impacts the final purchase decision,” said Isabelle Helms, Vice President of Research and Market Intelligence at Cox Automotive.
U.S. car buyers spend more than three hours on average in a dealership from start to finish — a timeframe that is considered much too long for half of new-car buyers in the country, according to the study. It also reveals that consumers spend nearly 40 minutes idle while at the dealership, and 64 per cent of people surveyed said the financing and paperwork took longer than they expected, according to Cox Automotive’s news release.
Buyers are also less satisfied with the price they paid for their car, and they no longer trust dealerships as much as they did in the past when it comes to offering them the best deal on a vehicle. In this case, Cox Automotive says a “simple, pressure-free shopping experience, transparent pricing, and a set price or non-negotiable price model can help build customer satisfaction in this area.”
