With COVID restricting physical travel, it has become necessary for automotive brands and dealerships to intimately understand the digital experiences they offer consumers, as more people are taking more of the car buying process online.
Quantcast, a global advertising technology company that delivers audience intelligence, measurement, and consent management solutions, predicts that 2021 will be the year of automotive digital retail after consumer behavioural changes to buying cars post-COVID.
In a recent report, the Quantcast APAC Automotive Insights – Consumer purchasing preferences and digital patterns examines the state-of-play of the region’s automotive industry and how consumer behaviour is setting the stage for a digitally enhanced vehicle purchase experience post-pandemic.
The report identifies five key consumer triggers when purchasing a car:
- Value is more important to most of today’s car buyers, even among the more affluent.
- Interest triggers for luxury car buyers include investing, real estate, and family changes.
- Younger prospects tend to start researching luxury car brands early, years before they might be able to buy.
- Internet users aged 45+ prefer using laptops and desktop for online research activities, indicating a preference for richer content experiences versus accessing information quickly using a mobile device.
- Social distancing measures during COVID-19 as well as health concerns have changed the way consumers shop for vehicles. The auto decision-making process has quickened, with potential buyers booking test drives within shorter time frames than pre-pandemic.
The report reveals that with the onset of COVID-19, automotive sales slowed across the Asia Pacific region throughout 2020, but that the industry has been recovering. The report also finds that Australians are now paying almost 40% more for used cars than in pre-pandemic 2019, and the demand for low-emission vehicles continues to rise, as domestic travel soars across the region.
Access the full report now at quantcast.com.
Quantcast is a global advertising technology company and the creators of an innovative intelligent audience platform that empowers brands, agencies and publishers to know and grow their audiences by reaching the right person at the right time. The Quantcast Platform provides real-time insights about consumers and their preferences while maintaining their data privacy. As the champions for a free and open internet, Quantcast is helping publishers and marketers thrive in the future of advertising, while consumers benefit.