Spotted this today:
CAR BUYING UNFOLDED: A DEEP DIVE INTO TODAY’S BUYING BEHAVIORS AND PREFERENCES (see attached PDF)
Reynolds & Reynolds surveyed 1015 consumers on everything from Online Research, Digital Retailing, Trade Valuation, Pricing/payment, Test Drives, In-store Experience, F&I and more. Some of the findings aren't surprising given what's happened and is happening since March 2020. It's a good current indicator on buying habits, what buyers find most valuable when shopping online and in-store, and what they’re willing to pay more for. Here's a short excerpt from their conclusion:
"There really isn’t an online buyer or an in-store buyer. 11% of consumers said they purchased online, but this was their perception. A much smaller percentage, only about two percent, actually completed the entire purchase 100% online, leaving the majority of consumers as “hybrid” buyers. Online buyers complete as much of the transaction online as they can, but they ultimately find themselves going through the motions for the test drive and signing paperwork in-person. And for in-store buyers, nearly all went through a meaningful portion of the buying process online before stepping foot on the lot."
CAR BUYING UNFOLDED: A DEEP DIVE INTO TODAY’S BUYING BEHAVIORS AND PREFERENCES (see attached PDF)
Reynolds & Reynolds surveyed 1015 consumers on everything from Online Research, Digital Retailing, Trade Valuation, Pricing/payment, Test Drives, In-store Experience, F&I and more. Some of the findings aren't surprising given what's happened and is happening since March 2020. It's a good current indicator on buying habits, what buyers find most valuable when shopping online and in-store, and what they’re willing to pay more for. Here's a short excerpt from their conclusion:
"There really isn’t an online buyer or an in-store buyer. 11% of consumers said they purchased online, but this was their perception. A much smaller percentage, only about two percent, actually completed the entire purchase 100% online, leaving the majority of consumers as “hybrid” buyers. Online buyers complete as much of the transaction online as they can, but they ultimately find themselves going through the motions for the test drive and signing paperwork in-person. And for in-store buyers, nearly all went through a meaningful portion of the buying process online before stepping foot on the lot."
