First-Ever Automotive Cross-Shopping Report Uses Mobile Location Data to Uncover Key Consumer Behavior
February 16, 2017 – Press Release – UberMedia, a trusted mobile authority that transforms behavioral data into actionable consumer insights, today released findings from an automotive report that for the first time leverages mobile location foot traffic data from more than 18,000 dealerships across the U.S. to better understand the impact of real-world cross-shopping behavior and the value that multiple dealership visits still have on the auto purchasing journey.
Utilizing UberMedia’s vast amounts of high-quality location data, demographic data, and interest cues, “UberMedia Data Insights on the Auto Purchasing Journey” provides in-depth analysis of cross-shopping foot traffic data from every major automotive manufacturer and the proportion of car brands that are more frequently cross-shopped, the cities with the most prevalent cross-shopping behavior, and the most competitive brand combinations that consumers cross-shop when on the verge of an auto-buying decision. For example, UberMedia observed that Dodge and Jeep are the most cross-shopped auto brands by sheer volume across the U.S, and that Ford, Toyota, and Chevrolet shoppers are the least likely to visit other auto dealerships when shopping for a car.
Key findings from the report reveal that despite the wealth of information at consumer ﬁngertips from online research and social media, real-world cross-shopping is still a common practice among active car buyers as they visit more than one dealership to compare prices, test drive car brands, and make the most informed decisions, providing significant opportunities for automotive brands to better understand their strengths, competitive threats, and potential new customers.
UberMedia’s mobile location data analysis even found that Gen Y/Millennials see the value in dealership visits, with a signiﬁcant percentage believing that showroom access and their relationship with dealers strongly inﬂuence their purchasing decisions.
“UberMedia’s own empirical data shows that people still kick the tires at multiple dealerships before making a decision, and that loyalty and personal dealership interactions remain vitally important for many people actively shopping for cars,” said Michael Hayes, CRO and CMO of UberMedia. “With this type of insight based on mobile location data and real-world foot traffic behavior, there’s a lot of room for automotive brands and dealers to better optimize their marketing campaigns and sway shoppers in their direction.”
Other UberMedia and corroborated findings include:
- More than half of auto shoppers visit multiple dealerships before making a purchase. Some research sources claim that 41% of new car buyers visit one dealership, but 59% visit an average of up to 5 dealers. The typical person considers 2.4 vehicles on average.
- Ford, Mercedes, and Toyota, which rank high in customer loyalty, are the some of the least cross-shopped brands by proportion of those shoppers seen in other dealer showrooms.
- Luxury brands experience less cross-shopping than mass market brands, indicating that the super affluent tend to go to only one dealership before making a purchase.
- Manufacturers that are visited by the most shoppers (who were also seen at other brand dealerships) tend to be mass market brands that in many cases ladder up to the top-ranked manufacturers.
- Cross-shopping is more common in urban areas where there are more brands and dealerships to choose from.
While the “UberMedia Data Insights on the Auto Purchasing Journey” report speaks specifically to the automotive industry, UberMedia also serves the retail, travel, sports, and entertainment industries.
To view the original press release, please visit PRWeb.
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