20 December 2018 Consumers are viewing multiple car search websites before buying their next car in order to ensure they have found the best deal. The research found 79% of consumers visit two or more car search websites when looking to buy a car.
This insight is amongst the findings of the inaugural Motors.co.uk Consumer Insight Panel, a major quarterly industry survey polling the views of over 1,000 in-market car buyers to identify current and future purchasing trends.
“Our research shows car buyers are keen to shop around online for the best value deal to suit their needs in the same way they do when booking a hotel or flight – with both price and retailer being key to their decision making,” said Dermot Kelleher, Motors.co.uk’s director of marketing and business intelligence.
“The findings illustrate how vital it is for dealers to increase the reach and frequency with which their stock is exposed to potential car buyers.”
Talking about the launch of the Consumer Insight Panel report Kelleher said; “The purpose is to help automotive businesses identify what matters most to today’s car buyers by providing insight on how to adapt and create approaches that respond successfully in a highly competitive market.
“For example the research identifies how consumers are anxious around negotiating on price and part-exchange values and are put off by the amount of administration required to make a purchase; these are all elements that can be seized upon by dealers to increase business performance.”
The independent research for the Motors.co.uk Consumer Insight Panel was conducted by Insight Advantage and focused on four main themes: Fuel Types, Click to Buy, From Desktop to Forecourt and Dealership Pain Points.
“Understanding customer wants and needs in today’s fast-changing and competitive landscape is vital for automotive retailers. Clearly buyers expect their online experience to be fast, reliable and transparent,” he said.
The full research can be downloaded here