Trends and latest insights on the luxury automotive purchase decision journey2014 summary

www. dianasherling.com / dianasherling@yahoo.co.uk

An overview of the latest insights of the car purchase

decision journey1. Time frames of the Purchase Decision

Journey2. Order of ‘places’ that influence

Timeframes of the Purchase Decision

Journey

Automotive ‘average’ timescales for shopping are

getting shorter

Maritz ‘Car Consumer Purchase Journey’ November 2013Autotrader ‘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)

The majority of ‘shoppers’ decide within 3 months

Google ‘Automotive Shopping Behaviour Study’ 2011Google ‘Digital drives auto shopping’ November 2013

‘Explore’ happens between 3-2 months towards being

‘in-market’

Google ‘Automotive Shopping Behaviour Study’ 2011

Digital resources are helpful, irrespective of how close to

replace they are

With over 80% consumers visiting an

OEM and dealers in their final month*

*McKinsey Global ‘Innovating Automotive Retail’ Feb 2014Google ‘Automotive Shopping Behaviour Study’ 2011

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

Confirmed by McKinsey

McKinsey Global ‘Innovating Automotive Retail’ Feb 2014

80% new and 100% used start their journey online*

* McKinsey Global ‘Innovating Automotive Retail’ Feb 2014

With an increasing number of digital touchpoints used

for research

Digital hugely influences ‘in person’ action at the dealers

Google ‘Digital drives auto shopping’ November 2013

With some consumers are already doing the entire journey on their mobilesMobile in particulars use has increased by 460% year on year and is increasingly used for all stages of the purchase decision journey

Google ‘Digital drives auto shopping’ November 2013