Gen Y Shoppers Present Great Selling Opportunity

J.D. Power blog

Accord­ing to the J.D. Pow­er and Asso­ciates 2013 New Autoshop­per Study, the major­i­ty of Gen Y car shop­pers are open to pur­chas­ing any vehi­cle brand.

Find out more about how and where they search before buy­ing.

One-half of all new-vehi­cle buy­ers who use the Inter­net in their shop­ping process (AIUs) are open to con­sid­er­ing any vehi­cle brand at the begin­ning of their research expe­ri­ence. In addi­tion, that per­cent­age is even high­er (54%) among Gen Y AIUs, accord­ing to our 2013 New Autoshop­per Study.

We see that close to one-half (47%) of Gen Y AIUs use smart­phones in their shop­ping process—the most of any age demo­graph­ic, which indi­cates how impor­tant it is for brands and web­sites to put these younger buy­ers into their mar­ket­ing equa­tions. The share of new-vehi­cle buy­ers in Gen Y is increas­ing at the great­est rate among all buy­ers and is pro­ject­ed to com­prise 23% of all 2013 retail sales.

Automak­ers have a ter­rif­ic oppor­tu­ni­ty to influ­ence younger buy­ers dur­ing their shop­ping process, which aver­ages about four months, par­tic­u­lar­ly since they are quite open to con­sid­er­ing dif­fer­ent brands as they begin their new-vehi­cle research. In addi­tion, the dig­i­tal pres­ence of the brand through mobile adver­tis­ing and by pro­vid­ing con­tent across mobile-acces­si­ble sites may be a great way to reach Gen Y buy­ers, since we see almost half that use a smart­phone dur­ing the shop­ping process.

Although AIUs con­tin­ue to use a desktop/laptop com­put­er to gath­er infor­ma­tion while shop­ping, their use of tablets and smart­phones has increased dra­mat­i­cal­ly from a year ago. Smart­phone usage has risen by 15% from last year and tablet usage is up 39% from the pre­vi­ous year. Shop­pers are even less tied to a desk, but can do their research from a couch at home while watch­ing TV or using a lap­top, or while sit­ting with friends in a café.

A few more study high­lights are sum­ma­rized:

• The study finds that near­ly all (98%) of AIUs vis­it man­u­fac­tur­er sites dur­ing their shop­ping process, fol­lowed by deal­er sites (83%); third-par­ty sites (80%); and social media sites (7%).

• AIUs more fre­quent­ly indi­cate that third-par­ty (54%) and man­u­fac­tur­er (52%) web­sites are very help­ful dur­ing the new-vehi­cle shop­ping process vs. deal­er and social media sites or auto­mo­tive apps.

• The study finds that Con­sumer Reports, Edmunds.com and Kel­ley Blue Book (kbb.com) are among the most vis­it­ed third-par­ty web­sites.

• AIUs vis­it the three men­tioned sites more often than the oth­er 33 third-par­ty web­sites mea­sured in the study.

• AIUs indi­cate that mod­el pric­ing infor­ma­tion, vehi­cle rat­ings and reviews, and vehi­cle com­par­i­son infor­ma­tion is among the most use­ful third-par­ty web­site con­tent.

• On aver­age, AIUs access 10 auto­mo­tive web­sites before pur­chas­ing a vehi­cle (includ­ing third-par­ty, deal­er and man­u­fac­tur­er sites).

• Only 19% of AIUs access deal­er ratings/reviews pri­or to pur­chase.

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