PDF 2018 Buyer Insight Report

2018 Buyer Insight Report

Analyzing the digital purchase paths of over 3,000 auto shoppers

Background

This report conducts an in-depth analysis of the digital purchase paths of more than 3,000 auto shoppers, based on data from a large survey and passively tracked digital behavior. The study found a considerable level of indecisiveness throughout the car shopping process and a low degree of brand loyalty among repeat buyers. It also describes the influential role of third-party shopping sites compared to other online automotive properties such as brand or dealership websites. Lastly, it breaks down what makes key auto-shopping segments unique, from Millennials to truck shoppers.

Introduction

3

Shopper Journey4

Millennial Deep Dive17

Hispanic-Buyer Snapshot

23

Luxury-Buyer Snapshot

24

Truck-Buyer Snapshot

25

Introduction

The auto-shopping journey is filled with options, and because many shoppers only replace their vehicle every five years, those options have changed since their last purchase. This leaves shoppers uncertain about where to purchase, what make and model to purchase, the style of vehicle they want, the features they need, and the price they should pay. Once they do decide to buy, 69% of shoppers replacing a vehicle opt for a different brand. But how do they come to that decision?

Via third-party auto sites. 91% of shoppers use auto-shopping sites, specifically, visiting an average of 13+ times, more than they visit any other category of third-party auto site. Furthermore, of all auto-shopping sites, CarGurus has the most engaged late-stage shoppers, who use CarGurus to make critical decisions like what and where to buy.

But how does the process begin? Let's rewind to the start of the shopper journey.

Shopper Journey

Why buy?

Respondents cite both desire (e.g. want an upgrade, something new) and necessity (e.g. need to replace vehicle soon, current vehicle doesn't work) as primary purchase drivers. 25% of shoppers have very or extremely urgent needs for a new vehicle.

Reasons for being in market

Need to replace vehicle soon

Want to upgrade

Current vehicle doesn't work

Want something new

Adding an automobile

Treating myself

30% 24% 22% 18%

15% 13%

5

Purchase urgency

28%

26%

21%

15%

10%

Extremely Very Somewhat A little

None

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