BRISBANE, Calif., Feb. 16, 2017 /PRNewswire/ -- eBay Advertising
today released results from its two-part consumer automotive
shopping journey survey, revealing that technology is causing
consumers to research and purchase cars online more than ever
before and is shifting the automotive purchase journey. The survey
reveals that a majority of consumers (63%) are extremely likely/
likely to purchase a car online in the future. Additionally, twice
as many men as women have purchased cars online citing reasons such
as convenience, low prices, variety and having access to more
options. The survey results also showed that when it comes to
features, both men and women care the most about price, reliability
and safety.1
The Influence of Technology
According to the survey,
87% of respondents are using the internet to research a vehicle
prior to purchase, including reviewing price comparisons, ratings
and current reviews.1 This communicates the importance
of the shopper journey and ensuring the consumer is receiving the
right information at the right time. According to eBay
Advertising's motors survey, 76% of respondents who are looking to
buy a car would prefer to buy online through eBay Motors.
Additionally, 71% of respondents who did not purchase their
vehicles on eBay Motors bought parts and accessories on eBay in the
last six months.2 However, for those who prefer to
purchase vehicles in person, female survey respondents say it's
because they want to be able to take a test drive, while male
survey respondents want to be able to check out the condition of
the car.1
"Technology continues to evolve the automotive shopping
journey," said Josh Wetzel, Senior
Director of Sales and Marketing at eBay Advertising. "Consumers are
already executing pre-purchase activities related to online
research with increased interest in online automotive experiences.
As more consumers continue to embrace automotive ecommerce for
vehicles; enhanced experiences and technologies like virtual
reality and artificial intelligence will continue to drive a larger
shift to online purchasing."
Under the Hood: Research, Men vs. Women and Face-to-Face
Sharing Beats Social Media
Survey responses showed an
evolution in the way people buy and communicate the good news about
their auto purchases. Key findings include:
- eBay Motors buyers rely more on customer and professional
reviews versus informational dealership visits2
- The average length of the purchase journey is two months, which
consists of researching, reading reviews, etc. 2
- Women are more likely than men to plan to keep their vehicle
until it dies1
- 71% of respondents said they prefer to share the news of a new
vehicle purchase with their friends and family in person, rather
than via the phone, text, and social media1
- Sedans and SUV/ Crossovers were the most popular vehicles
purchased1
- Men are more likely than women to purchase both convertibles
and collectible cars1
On-and-Off Road Insurance: Reality and
Fantasy
Insurance proved to be an important part of the
automotive purchase journey. The survey results show that two in
three consumers research insurance providers during the automotive
purchase process, with the majority conducting their research
online1. When respondents were asked what they would be
willing to do to reduce their insurance costs, the top three
responses were:
- Drive more carefully (72%)
- Drive a more conservative car (59%)
- Upgrade my security system (57%)1
When they were given the option to insure anything in the
personal lives aside from their homes, cars, etc., the top three
responses were:
- My personal identity
- My relationship with my significant other
- My career1
However, men and women didn't have the same priorities when it
came to insuring their personal lives. More men said they would
rather insure their physical appearance than women did.
Additionally, those with incomes of more than $70K were more likely to insure their appearance
while those earning less than $70K
said they would insure their relationships. 1
Science Behind the Survey
eBay Advertising executed a
two-party survey consisting of a general consumer
survey1 and eBay Motors advertising data.2
eBay Advertising surveyed more than 1,000 U.S. consumers between
the ages of 18 and 65 who had purchased a vehicle in the last six
months. The company also analyzed eBay Motors data based on
approximately 1,000 consumers who had either made purchases from
the 'cars & trucks' category on eBay Motors, or who had browsed
through eBay Motors in 2016.
About eBay Motors
eBay Motors (www.ebay.com/motors), a part of eBay (Nasdaq:
EBAY), is one of the world's largest online marketplaces for buying
and selling all things automotive that couples both vehicles and
parts and accessories. eBay Motors' vibrant marketplace connects
millions of buyers and sellers through great value and unique
selection. All consumers, from everyday drivers to enthusiasts, can
discover and purchase virtually any vehicle they want, from new and
used inventory, including collector cars, motorcycles and parts and
accessories that they need to modify, repair, and personalize their
rides.
About eBay Advertising
eBay Advertising (http://cc.ebay.com/whatsnew/) is a division of
eBay Inc. (Nasdaq: EBAY), the global commerce leader. eBay
Advertising is the only commerce partner that drives consideration
for brands and sellers by providing unique data that delivers the
deepest insights and influence throughout the consumer shopping
journey. eBay Advertising works with the world's top brands to
deliver advanced advertising solutions that drive market growth,
with a rich consumer experience.
Media Contact:
Cameron
Smead
Karbo Communications for eBay Advertising
925.785.7872
cameron@karbocom.com
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SOURCE eBay Advertising