The famed global marketing information services firm, J.D. Power and Associates, just released their 2013 New Autoshopper Study which states that a whopping 54 percent of Gen Y online car buyers are not brand loyal when beginning their shopping process.
The study delves into how new car buyers are driven by technology which is utilized to compile information about a vehicle. Technological must-haves = that help towards finalizing a car-buying decision are apps, smartphones, web sites, desktops, laptops, gaming consoles and tablets, according to the study.
The data for the investigational report is based upon input from approximately 17,000 buyers and lessees of model year 2011 to 2013 vehicles. The subjects all relied on technological apparatuses with the most popular being tablets, used most often by first time car buyers. According to the survey, Gen Y'ers now comprise more than 20 percent of all retail sales and tend to search the internet more so than any other group. Gen Y, aka the Millennial Generation also tend to rely on smartphones, 47 percent of those surveyed, relied on this type of technology to help them perform their due diligence when car buying.
"It is important for brands and websites to pay special attention to Gen Y buyers, as they are increasing in market share at the greatest rate among all new-vehicle buyers" and are now responsible for more than 20 percent of all retail sales, said Arianne Walker, senior director of automotive media and marketing at J.D. Power in a press release. Walker continues, "Additionally, the digital presence of the brand through mobile advertising and content across mobile-accessible sites and apps may be a great way to reach Gen Y buyers, since we see almost half use a smartphone during the shopping process."
In general, according to the study, 98 percent of car buyers prefer auto manufacturer web sites, 83 percent hit dealership web sites, 80 percent seem to gravitate toward third-party sites and a remaining 7 percent opt for the social media pages.
According to Walker, if they haven't already, automotive web sites should become more creative and like eye-candy, lure consumers their way. Walker contends, "As automotive Internet users continue to rely heavily on automotive manufacturer and third-party websites, an opportunity is created for sites to differentiate themselves further by providing engaging content and useful shopping tools that target consumers at each stage of the shopping process."
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