Buying a car today is about more than shopping the lot. Online research has the industry adapting to a whole new customer experience.
Two big things have happened: the internet and Millennials. In the last 10 years online research has emerged as a go-to way to learn more about buying a car. And who better to jump in then the most tech-savvy generation to date - Millennials. They now outnumber Baby Boomers and they are the most racially diverse. With numbers like these, you can bet dealers and manufacturers want to know what makes them tick.
How Millennials Car Shop
- - 60% shop every three years
- - 74% shop for a month
- - 88% research online
So what about the rest of us? The study didn't focus so much on men and how they car shop because, well, they already know a lot about them. They wanted to know more about the rest of us. And boy oh boy ladies, the study reveals, you are important. You influence 80 percent of the car buying decisions. You are practical and you do a lot of homework. And you like new cars over used.
And that's important for dealers to know. The study
indicates that dealers try to pitch a car based on price, but that doesn't sell with women. When women do look at used cars they're not driven by price. They are first looking for the car's features. Not fancy things, but options that make their lives easier - like kid-friendly choices. They'll pay more to get what they need. Men are more price driven.
What is the goal of knowing this? To make car shopping less adversarial for both the dealer and the shopper. The better you understand each other the better it all works. If you enjoy the experience, you might be less likely to put off making a car purchase.