eBay Advertising released results from an online shopping survey. Technology enables buyers to purchase cars online more than ever before.
The study found that a majority of consumers (63%) are extremely likely/ likely to purchase a car online in the future. 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.
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. 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. 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.
“Technology continues to evolve the automotive shopping journey,” said Josh Wetzel, Senior Director of Sales
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 visits.
The average length of the purchase journey is two months, which consists of researching, reading reviews, etc.
Women are more likely than men to plan to keep their vehicle until it dies.
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 media.
Sedans and SUV/ Crossovers were the most popular vehicles purchased.
Men are more likely than women to purchase both convertibles and collectible cars.
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%).
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.
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.
eBay Advertising executed a two-party survey consisting of a general consumer survey and eBay Motors advertising data. 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.