New Study Indicates Variance of Dealer Sales Experience

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Market Watch

Fore­sight Research study shows not all buy­ers use the same cri­te­ria to choose a dealer or are influ­enced by the same dealer expe­ri­ence and sales processes.

Find out more about what the study indi­cates for dealers.

Accord­ing to the Fore­sight Research 2013 Deal­er­ship Report ©, based on a study of 7,543 recent US new car and truck buy­ers, not all buy­ers use the same cri­te­ria to choose a dealer or are influ­enced by the same dealer expe­ri­ence and sales processes. Auto­mo­tive fore­cast­ers believe that older buy­ers will con­tinue to dom­i­nate the new car mar­ket for a least a few years, while younger buy­ers will slowly but steadily enter the mar­ket as the econ­omy and job mar­kets con­tinue to recover. Dif­fer­ent buy­ers have dif­fer­ent pri­or­i­ties and meet­ing these expec­ta­tions impact the out­come — influ­enc­ing the pur­chase. This study is about how deal­ers can mod­ify the sales expe­ri­ence to meet the needs of these dif­fer­ent buyer groups and bet­ter influ­ence the pur­chase — the essen­tial goal for improv­ing sales.

Fore­sight Research found:

  • While 17 dif­fer­ent auto­mo­tive mar­ket­ing com­mu­ni­ca­tion chan­nels are ana­lyzed in this study, none are more influ­en­tial to the pur­chase deci­sions of new car and truck buy­ers than the deal­er­ship expe­ri­ence with the excep­tion of prior brand expe­ri­ence. (49% of all buy­ers this past year report that their deal­er­ship expe­ri­ence was highly influ­en­tial to their deci­sion to pur­chase the vehi­cle they did).
  • The aver­age new vehi­cle buyer today is older (nearly half are over age 55). They are also wealth­ier and expe­ri­enced with the buy­ing process. Dealer rep­u­ta­tion and rela­tion­ships are key to this group.
  • Younger buy­ers (many of them first time buy­ers) bring a nar­rower set of expec­ta­tions into their buy­ing process. These buy­ers want and need dealer assis­tance, but one out of four say their deal­er­ship expe­ri­ence took too long.
  • Buy­ers aged 35–54 (rep­re­sent­ing 37% of cur­rent buy­ers) reflect a mix­ture of their younger and older coun­ter­parts. Like younger buy­ers, they are very con­cerned with get­ting a good price/deal, and financ­ing options. Yet like older buy­ers, they have high expec­ta­tions of their dealer experience.

 

 

 

 

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