Car decision purchase journey
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A curation of the latest insights around the automotive purchase decision journey
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Car decision purchase journey
- 1. Trends and latest insights on the luxury automotive purchase decision journey 2014 summary www. dianasherling.com / dianasherling@yahoo.co.uk
- 2. An overview of the latest insights of the car purchase decision journey 1. Time frames of the Purchase Decision Journey 2. Order of ‘places’ that influence
- 3. Timeframes of the Purchase Decision Journey
- 4. Automotive ‘average’ timescales for shopping are getting shorter Maritz ‘Car Consumer Purchase Journey’ November 2013 Autotrader ‘The Internet is making Car Shopping More Efficient’ June 2013 and spend on average only 3.75hrs in the dealership (compared to 7.5hrs in 2011)
- 5. 7.3 <1 month rese Time is no longer a factor Source: Millward Brown Digital/Google Vehicle Shopper Path to Purchase Study, September 2013 82% of purchasers are in-market for 3 months or less As purchasers use many online sources reg The majority of ‘shoppers’ decide within 3 months Google ‘Automotive Shopping Behaviour Study’ 2011 Google ‘Digital drives auto shopping’ November 2013
- 6. ‘Explore’ happens between 3-2 months towards being ‘in- market’purchasers search to navigate to online sources 20092010 awareness interest consideration test-drive purchase 6 Months share of new buyers referred to OEM sites by search 3 Months 2 Months 1 Month 1 Week 30% 37% 42% 48% 38% 25% 37% 36% 40% 34% search directs at least a third of traffic within 3 months of purchase Google ‘Automotive Shopping Behaviour Study’ 2011
- 7. Digital resources are helpful, irrespective of how close to replace they are AVERAGENUMBEROF DIGITAL SOURCESUSED 7.3 8.1 8.1 <1 month research 1-3 months research 3+ months research Time is no longer a factor Source: Millward Brown Digital/Google Vehicle Shopper Path to Purchase Study, September 2013 RT1. Which of the following online sources,if any, did you use to look for information on cars/trucks using these types of devices?N=1591 / O7. How much time passed from when you first 82% of purchasers are in-market for 3 months or less As purchasers use many online sources regardless of time in-market
- 8. With over 80% consumers visiting an OEM and dealers in their final month* 2525 5% 5% 6% 7% 8% 14% 4% 4% 6% 7% 8% 23% 0% 5% 10% 15% 20% 25% 6 monthsprior 5monthsprior 4monthsprior 3monthsprior 2 monthsprior Withinthe monthof purchase 2009Purchasers 2010 Purchasers dealership visitation peaked in purchase month Dealership Site Visitation by Purchase Month (Clickstream Data; Share of Purchasers 6-Months Prior to Purchase) Auto Shopper Behavior Study, Google/Compete, 2011. Clickstream data, January 2009-December 2010 +64% *McKinsey Global ‘Innovating Automotive Retail’ Feb 20141818 oem/ 3rd party visitation peaked during purchase month OEM and 3rd Party Site Visitation by Purchase Month (Clickstream Data; Share of Purchasers 6-Months Prior to Purchase) 13% 11% 17% 18% 20% 34% 13% 17% 25% 21% 22% 39% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 6 monthsprior 5monthsprior 4monthsprior 3monthsprior 2monthsprior Within the month of purchase OEM Sites 3rd Party Sites Auto Shopper Behavior Study, Google/Compete, 2011. Clickstream data, January 2010-December 2010 Google ‘Automotive Shopping Behaviour Study’ 2011
- 9. But sometimes the process isn’t as ‘final’ as we’d like http://www.nielsen.com/in/en/insights/reports/2014/how-indian-consumers-navigate-the-car-buying-journey.html
- 10. Confirmed by McKinsey McKinsey Global ‘Innovating Automotive Retail’ Feb 2014
- 11. 80% new and 100% used start their journey online* * McKinsey Global ‘Innovating Automotive Retail’ Feb 2014 google.com/think The research process often kicks off online Source: Millward Brown Digital/Google Vehicle Shopper Path to Purchase Study, September 2013 MI3. What role did each of the following advertisements play while you were shopping for cars/trucks?Please select all of the responses that apply for each type of advertisement. N=101-1,030. 25% 26% 27% 28% 28% 29% 34% 34% 34% 35% Magazine ad Newspaper ad Online site ad Email ad Search ad TV ad Tablet ad Mobile ad Video ad Direct mail AD TYPESTHAT PROMPTED CONSUMERS TO START RESEARCHING 3 OF 5 top ad formats for prompting research were digital 9
- 12. With an increasing number of digital touchpoints used for research
- 13. Digital hugely influences ‘in person’ action at the dealers 19% 27% 35% 38% 53% 26% 32% 37% 37% 40% 43% 56% 57% 62% 69% 77% 81% 83% 59% 82% 89% 89% Radio Flyers & brochures Magazines Newspapers TV Auction sites Newspaper sites Social media Video sites Classified/listing sites Online mapping tools Regional dealer sites Consumer review sites Professional review sites Third party sites Family & friends Salesperson Test drive Dealer visit Digital plays a big role leading up to purchase Source: Millward Brown Digital/Google Vehicle Shopper Path to Purchase Study, September 2013 RT1. Which of the following online sources, if any, did you use to look for information on cars/trucks using these types of devices?Please select all options that apply for each source. N=1,591 (2013); N=1072 (2012) / RT2. Which of the following sources, if any, did you use to look for information on cars/trucks?N=1,591 (2013); N=1072 (2012) +20% YoY +23% YoY +28% YoY In Person Online Offline Dealer sites Manufacturer sites Search engines Google ‘Digital drives auto shopping’ November 2013
- 14. With some consumers are already doing the entire journey on their mobiles Mobile in particulars use has increased by 460% year on year and is increasingly used for all stages of the purchase decision journey google.com/think Shoppers turn to mobile for a variety of research & comparison activities Source: Millward Brown Digital/Google Vehicle Shopper Path to Purchase Study, September 2013 RT11. Which of the following, if any, did you do on your mobile device (e.g., tablet and/or mobile phone) while shopping for cars/trucks?Please select all that apply. N=715 (2013)/N=338 (2012) 29% 35% 35% 37% 37% 38% 38% 39% 39% 44% Searched dealer inventory Read auto reviews Read car/truck features & specs Compared vehicles Read general car/truck info Located dealer Viewed current offers Read consumer reviews Called dealer Viewed images of cars/trucks MOBILEACTIONSTAKEN WHILESHOPPING +47% YoY +46% YoY +57% YoY 11 Google ‘Digital drives auto shopping’ November 2013